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What is double entry?

The term ‘double entry’ relates to a form of book keeping or accounting where transactions are recorded twice – once on the credit side of the ledger and once on the debit side.
Continue reading What is double entry?

What is depreciation?

The cost of the fixed assets of a business can be written off over a period of time. The amount of the cost that is written off is called the ‘depreciation’.
Continue reading What is depreciation?

Accounting basics

If you are to invest in a new business, knowledge of accounts can make life much easier. Even if you are simply looking to manage your personal finances better, knowledge of some basic accountancy is advisable.
Continue reading Accounting basics