Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
& Principles
• Business Entity • Realisation concept
concept
• Principle of accrual
• Money Measurement
Concept • Dual aspect
• Cost Concept concept
• Consistency • Principle of
• Conservatism disclosure
• Going Concern concept • Principle of
materiality
Meaning & Fundamentals of
Double Entry Book Keeping
• Double entry book-keeping is a system of
recording two fold effect of business transaction
in proper set of books.It is the most
scientific,systematic and accurate system of
maintaining the accounts of business
• Two fold aspect of every transaction need to be
recorded for the giver of the benefit and the
other for receiver of benefit
System of Double Entry Book Keeping
1. Receiver 2. Giver
One account has to be debited and the other account has to be credited
1. Complete record
2. Arithmetical accuracy
3. Errors tapped
4. Frauds detected and evidence available
5. Preparation of financial statements
6. Historical accounting leads to future
business trends
Fundamentals of Double Entry
book-keeping