Abstract
Double-entry bookkeeping is a system for arranging and organizing accounting information. It requires that each transaction (or other change) recorded in the accounting system must be recorded twice, and for the same money amount, once in debit form and once in credit form. Because it is concerned with the organization of information rather than with the scope and detail of that information, the system of double-entry bookkeeping is highly adaptable. It neither generates nor requires any particular set of valuation rules or profit concepts, and it is compatible with different treatments for changes in the value of money.
This chapter was originally published in The New Palgrave Dictionary of Economics, 2nd edition, 2008. Edited by Steven N. Durlauf and Lawrence E. Blume
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Bibliography
Yamey, B.S. 1964. Accounting and the rise of capitalism. Journal of Accounting Research 2: 117–136. for a discussion of Sombart’s views on double-entry bookkeeping and capitalism.
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Yamey, B.S. (2008). Double-Entry Bookkeeping. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_332-2
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DOI: https://doi.org/10.1057/978-1-349-95121-5_332-2
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Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
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Latest
Double-Entry Bookkeeping- Published:
- 22 March 2017
DOI: https://doi.org/10.1057/978-1-349-95121-5_332-2
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Original
Double-Entry Bookkeeping- Published:
- 26 November 2016
DOI: https://doi.org/10.1057/978-1-349-95121-5_332-1