Approaches
There are two different approaches to the double entry system of bookkeeping. They are Traditional Approach and Accounting Equation Approach. Irrespective of the approach used, the effect on the books of accounts remain the same, with two aspects (debit and credit) in each of the transactions.
Read more about this topic: Double-entry Bookkeeping System
Famous quotes containing the word approaches:
“A politician is a statesman who approaches every question with an open mouth.”
—Adlai Stevenson (1900–1965)
“The closer a man approaches tragedy the more intense is his concentration of emotion upon the fixed point of his commitment, which is to say the closer he approaches what in life we call fanaticism.”
—Arthur Miller (b. 1915)
“As the truest society approaches always nearer to solitude, so the most excellent speech finally falls into Silence. Silence is audible to all men, at all times, and in all places. She is when we hear inwardly, sound when we hear outwardly. Creation has not displaced her, but is her visible framework and foil. All sounds are her servants, and purveyors, proclaiming not only that their mistress is, but is a rare mistress, and earnestly to be sought after.”
—Henry David Thoreau (1817–1862)