Abstract
We have, in previous chapters, looked at the double-entry system of book-keeping. The advantages of the system can be summarised as follows:
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(i)
There is a complete record of every transaction.
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(ii)
There is an arithmetical check on the accuracy of the figures.
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(iii)
Greater control can be exercised over the accounting records.
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(iv)
Certain subsidiary functions in larger businesses can be delegated to junior staff.
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(v)
Greater reliability can be placed on the accounts produced from those records.
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© 1986 P. Stevens
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Stevens, P. (1986). Incomplete Records. In: Work Out Principles of Accounts for First Examinations. Macmillan Work Out Series. Palgrave, London. https://doi.org/10.1007/978-1-349-18141-4_15
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DOI: https://doi.org/10.1007/978-1-349-18141-4_15
Publisher Name: Palgrave, London
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