Question

explain deshi nama system and double entry system​

Answer 1

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The Deshi Nama system is explained as an ancient or traditional form of the accounting system. In this system, accounts are prepared manually and were generally used by sole owners or partners.

The double entry system in accounting was introduced by Luca Pacioli who is also considered the Father of Accounting. In this system are basically rules for debit and credit and hence are pillars of this system or process. It also includes three bases on which accounts can be prepared; mercantile base, cash base and mixed base.