What exactly is the advantage of double-entry accounting over
single-entry accounting?
--
Prof. Bryan Caplan
Department of Economics George Mason University
http://www.bcaplan.com [EMAIL PROTECTED]
He wrote a letter, but did not
Double entry accounting makes it very difficult to hide losses and
massively inflate your profits...wait, that can't be right, scratch
that. I don't know.
Alex
--
Dr. Alexander Tabarrok
Vice President and Director of Research
The Independent Institute
100 Swan Way
Oakland, CA, 94621-1428
Tel.
Double entry means that you have one column for money going out
of an account and one column for money going into an account. Thus,
it very easy to keep track of cash inflow and outflow (just add up
the columns). With single entry, there is more error because you
mistakenly count a debit as a
Bryan:
What exactly is the advantage of double-entry accounting over
single-entry accounting?
Two advantages come to mind: One is the automatic error prevention of
having a built-in redundancy. The other is that every economic exchange
by definition involves two quantities. A merchant
fabio guillermo rojas wrote:
Double entry means that you have one column for money going out
of an account and one column for money going into an account. Thus,
it very easy to keep track of cash inflow and outflow (just add up
the columns). With single entry, there is more error because
Why do some Internet merchants refuse to display prices on some items
until you put the affected items in your online shopping cart? I first
noticed this at BestBuy.com, but now Amazon.com and CircuitCity.com have
also picked up this practice.
Here's Amazon.com's explanation, which doesn't
Does anyone answering here know any accounting or are people just guessing? I pulled
out an accounting text I keep as a reference and looked up double entry and single
entry and they weren't there.
My understanding is that the the invention of double entry accounting refers to the
invention
After journalizing transactions, and later posting it to its ledger
accounts, a worksheet is made to detect errors in computation. Such is the
case when the bookkeeper forgets to maintain a double entry in all
journalizing or posting, the total amount of the accounts would not be
equal to
Judging from the market for texts, I am probably alone in believing that
most micro texts have it wrong. At the principles level we do not need to
be producing students who have a tenuous understanding of what Ph.D.
economics students learn. Instead, we should be teaching students how to
Carl Shapiro and Hal Varian's Information Rules has a good discussion on
this point. If price comparisons are easy, then every seller's output is an
excellent substitute for every other seller's output.
Bill Sjostrom
- Original Message -
From: Wei Dai [EMAIL PROTECTED]
To: [EMAIL
What's wrong with negative numbers?!
Prof. Bryan Caplan
Bryan - it's not mathematical. It's book keeping. Keeping the two
columns separate is simply easier for finding mistakes. With spreadsheets
its easy, but if its teh 13th century and all is done by
The advantage to whom? (If I may be allowed to ask a somewhat simple
question? - the accountants? The government? The owner(s)?)
Sincerely yours
Chresten Anderson
-Oprindelig meddelelse-
Fra: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]Pa vegne af
Bryan Caplan
Sendt: 27. juni 2002
markjohn wrote:
. . . A year's course in economics can give you
the basics but it not transform them to homo economicus-es.
Homines economici, in case anyone wanted to know.
--
Anton Sherwood, http://www.ogre.nu/
On Thu, 27 Jun 2002, William Dickens wrote:
Does anyone answering here know any accounting or are people just guessing?
Just enter double entry accounting into google and you can easily
find some answers. It hard for us modern people to understand, but
simply accounting techniques can make a
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