Who is the father of accounting and her definition?
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The father of Accounting is Luca Pacioli.
He gave thesis on double entry system.
WHAT IS DOUBLE ENTRY SYSTEM OF BOOKKEEPING ??
The double entry system of accounting or bookkeeping means that every business transaction will involve two accounts (or more). For example, when a company borrows money from its bank, the company's Cash account will increase and its liability account Loans Payable will increase.
He gave thesis on double entry system.
WHAT IS DOUBLE ENTRY SYSTEM OF BOOKKEEPING ??
The double entry system of accounting or bookkeeping means that every business transaction will involve two accounts (or more). For example, when a company borrows money from its bank, the company's Cash account will increase and its liability account Loans Payable will increase.
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