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 is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsBibliography
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.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Yamey, B.S. (2018). Double-Entry Bookkeeping. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_332
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_332
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences