What is Dual aspect concept ?
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dual aspect concept is the basis for the checks and balances in accounting by looking at all the figures from at least 2 different views.
"This concept sets up for us the basic accounting equation from which financial statements are derived.
The Accounting Equation states that "total assets = total liabilities and equities""
MS Money and Quicken automatically give you the various forms involved.
"This concept sets up for us the basic accounting equation from which financial statements are derived.
The Accounting Equation states that "total assets = total liabilities and equities""
MS Money and Quicken automatically give you the various forms involved.
demonic1:
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Answered by
3
dual aspect concept is the basis for the checks and balances in accounting by looking at all the figures from at least 2 different views.
"This concept sets up for us the basic accounting equation from which financial statements are derived.
The Accounting Equation states that "total assets = total liabilities and equities""
MS Money and Quicken automatically give you the various forms involved.
"This concept sets up for us the basic accounting equation from which financial statements are derived.
The Accounting Equation states that "total assets = total liabilities and equities""
MS Money and Quicken automatically give you the various forms involved.
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