Double Entry by Single: A New Method of Book-Keeping, Applicable to All Kinds of Business (Classic Reprint) - Hardcover

F. W. Cronhelm

9780484762540: Double Entry by Single: A New Method of Book-Keeping, Applicable to All Kinds of Business (Classic Reprint)

Hardcover

ISBN 10: 0484762540 ISBN 13: 9780484762540

Publisher: Forgotten Books, 2018

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Excerpt from Double Entry by Single: A New Method of Book-Keeping, Applicable to All Kinds of Business

Book-keeping is'the art of recording property, so as to shew at all times the value of the whole capital and of each component part.

As a method susceptible of harmony and system, it owes its origin to the invention of money. Without this universal symbol of property, Book-keeping would be merely a series of memoranda, incapable of that beautiful harmony between the Whole and the parts, which now entitles 'it to rank amongst the exact sciences. Without the relation of money, a man might keep accounts of various kinds of property, and even of personal debts; but he could not collect the different parts into one whole, nor state his real worth by any other method than an enumeration of all his possessions and debts. Neither could he accurately calculate his Profit or Loss from one year to another, unless his property at each period should happen to be composed of parts similar in nature, with either no augmentation's, or no diminutions.

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