The disadvantages are:- 1. It is time-consuming. 2. Specialist knowledge is needed to perform double-entry 3. A businesses administration costs will increase due to the need to recruit a book keeper.
state the principles of double entry
Contra entry
advantages of double-entry book-keeping system?
Double Entry Accounting is introduced by Lucas Paciolli
Double entry is a transaction in which the payment is established in two accounts instead of 1 as to single entry.
Christie Malry's Own Double-Entry was created in 1973.
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
There is no internal control, Mistake carryover
Tel me also advantages and disadvantages of Oligopoly?
journal
Christie Malry's Own Double-Entry has 193 pages.
what is the entry implies that