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:
“If I commit suicide, it will not be to destroy myself but to put myself back together again. Suicide will be for me only one means of violently reconquering myself, of brutally invading my being, of anticipating the unpredictable approaches of God. By suicide, I reintroduce my design in nature, I shall for the first time give things the shape of my will.”
—Antonin Artaud (1896–1948)
“Bloody men are like bloody buses—
You wait for about a year
And as soon as one approaches your stop
Two or three others appear.”
—Wendy Cope (b. 1945)
“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)