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Accounting: Difference between revisions
→Accounting lesson 1 Double-entry bookkeeping, credit and debit: + stuff from w:debit and credit - remove redundant repetition
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=== Accounting lesson 1 Double-entry bookkeeping, credit and debit === | === Accounting lesson 1 Double-entry bookkeeping, credit and debit === | ||
* '''[[w:Double-entry accounting]]''' ( or '''double-entry [[w:bookkeeping]] system''' [[w:fi:Kahdenkertainen kirjanpito]]) is a set of rules for recording financial information in a [[w:financial accounting]] system in which <u>'''''every transaction'''''</u> or event <u>'''''changes at least two'''''</u> different nominal [[w:ledger]] <u>'''''accounts'''''</u>. ( Wikipedia ) | |||
* '''[[w:Debit and credit|Debits and credits]]''' (abbreviated '''Dr''' and '''Cr''', respectively) are entries made in [[w:Account (accountancy)|account]] [[w:ledger|ledger]]s to record changes in [[w:Value (economics)|value]] resulting from business transactions. Generally speaking, the source account for the transaction is ''credited'' (that is, an entry is made on the right side of the account's ledger) and the destination account is ''debited'' (that is, an entry is made on the left side). Total debits must equal total credits for each transaction; individual transactions may require multiple debit and credit entries to record. ( Wikipedia ) | |||
:* '''[[w:Financial accountancy]]''' (or '''financial accounting''') is the field of [[w:accountancy]] concerned with the preparation of [[w:financial statements]] for decision makers, such as [[w:Shareholder|stockholder]]s, [[w:vendor (supply chain)|supplier]]s, [[w:bank]]s, employees, [[w:government agencies]], owners, and other stakeholders. Financial capital maintenance can be measured in either [[w:nominal monetary units]] or [[w:units of constant purchasing power]]. ( Wikipedia ) | :* '''[[w:Financial accountancy]]''' (or '''financial accounting''') is the field of [[w:accountancy]] concerned with the preparation of [[w:financial statements]] for decision makers, such as [[w:Shareholder|stockholder]]s, [[w:vendor (supply chain)|supplier]]s, [[w:bank]]s, employees, [[w:government agencies]], owners, and other stakeholders. Financial capital maintenance can be measured in either [[w:nominal monetary units]] or [[w:units of constant purchasing power]]. ( Wikipedia ) | ||