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:
“The Oriental philosophy approaches easily loftier themes than the modern aspires to; and no wonder if it sometimes prattle about them. It only assigns their due rank respectively to Action and Contemplation, or rather does full justice to the latter. Western philosophers have not conceived of the significance of Contemplation in their sense.”
—Henry David Thoreau (1817–1862)
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—Arthur Miller (b. 1915)
“I should say that the most prominent scientific men of our country, and perhaps of this age, are either serving the arts and not pure science, or are performing faithful but quite subordinate labors in particular departments. They make no steady and systematic approaches to the central fact.... There is wanting constant and accurate observation with enough of theory to direct and discipline it. But, above all, there is wanting genius.”
—Henry David Thoreau (1817–1862)