Accounting system

A polarity system with Dr/Cr +/-. The net value of a General Ledger is always = 0

A pentagram with equity as the head pointing up if the business is healthy i.e. with a Cr/- balance & downward Dr/- if unhealthy.

The 'hands' give & take/ buy & sell - Income & expense, Cr/- & Dr/+.

The business stands on two 'legs', assets & liabilities Dr / + & Cr/ -

Financial measurements are taken at an Instant in time - balance

and between 2 time points - duration (profit or loss)

Information is stored in a general ledger described by a chart of accounts using hierarchies and sometimes dimensions.

Posted by: Andrew
Company: Noble & Associates
Phone: 61894007400
Posted On: 1/1/0001
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