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 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)
“Someone approaches to say his life is ruined
and to fall down at your feet
and pound his head upon the sidewalk.”
—David Ignatow (b. 1914)
“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)