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Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the " language of business", measures the results of an organization' s economic activities and conveys st Accounting, Global Edition - Kindle edition by Madhav Rajan, Srikant M.
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Use features like bookmarks, note taking and highlighting while reading Cost Accounting, Global bits and credits occur simultaneously in every financial transaction in double- entry bookkeeping. In the accounting equation, Assets = Liabilities + Equity, so, if an asset account increases ( a debit ( left) ), then either another asset account must decrease ( a credit ( right) ), or a liability or equity account must increase ( a credit ( right) ).
Note also that in the extended equation, ternational Journal of Academic Research in Business and Social Sciences March, Vol. Jul 01, · Nelson Pereira dos Santos and the Golden Age of Mexican Cinema.
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