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متابعة

Without double entry system accounting systems are not effective ?

Do you agree ?

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تم إضافة السؤال من قبل Mohammad Sultan Mahmud , Accounts Manager , Abrar Plastic Industries Ltd
تاريخ النشر: 2014/04/04
Rehan Qureshi
من قبل Rehan Qureshi , Financial Consultant , Self Employeed

yes this statement is true. coz single entry system is not effective and it have alot of ifs and buts and result are very poor

Mohammad Shamsuzzaman Shamo
من قبل Mohammad Shamsuzzaman Shamo , Senior Manager , BRAC

I agree and double entry system is mandatory for any Accounting entry.

 

مستخدم محذوف‎
من قبل مستخدم محذوف‎

Assets = Liabilities + Equity is a very elegant mathematical equation. Making adjustments at any one variable must affect this equation and that is what creates both the elegance, necessity and result of the effectivness of double entry accounting.

Ali Hammad Naeem
من قبل Ali Hammad Naeem , Chief Executive Officer , Concern Worldwide Media Clicks (Pvt.) Limited Chattha Group of Travels

To some extend I agree but accounting system still survice in single entry specially in development sector or the organizations working on grants...(where there is single source of income)

Yusuf Dalal
من قبل Yusuf Dalal , General Accountant. , Gmamco Contracting LLC

Most of the company including the small traders use the computerized accounting system which runs on the double entry accounting system.

So the concept of single accounting system by itself is scrape and therefore no point in discussing the issues which have no material value.

 

muhammad nohman
من قبل muhammad nohman , ticket reservation agent , Global network travel & tours

YES

Mohammad Salman Abdullah   CSCP
من قبل Mohammad Salman Abdullah CSCP , Commercial & Logistics Manager , Wahyd Logistics

The essential point of the double-entry system is to achieve a recording balance between related accounts.Because every transaction involves certain kinds of monetary exchanges between at least two business accounts, the term "double-entry system"

I agree and double entry system is mandatory for accounts

Md. Amir Hossain Halima Tus Sadia
من قبل Md. Amir Hossain Halima Tus Sadia , Senior Manager (Accounts & Finance) , Mulitfabs Limited

There is a single entry symtem accounting, i agreewith you.

Umer Aziz
من قبل Umer Aziz , Senior Accountant , TERNA Bahrain Holding - GEK Group (www.terna.gr)

Indeed, you are right!!

mohammed ismail
من قبل mohammed ismail , Group Accounting Manager , AMS Holding Group

I agree

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