dual accounting is a douable entry system.this is two
accpets .one accepetis debit anther accpets is credit.my
knowledge is this but any mistake of this question
retification pleaseaccpet.
Dual Accounting is a double entry system,wherein both debit
and credit aspect of a transaction is recorded.Each
transaction has equivalent debit and credit ledger.
Dual Accounting is a double entry system. There is must
tally the both side i.e debit and credit, so transaction has
equivalent debit and credit ledger accounts in the account
books.
Dual Accounting is a double entry system,wherein both debit
and credit aspect of a transaction is recorded.Each
transaction has equivalent debit and credit ledger ledger
accounts in the account books
Dual Accounting is, in which the Transactions enters in
both the Debit & Credit side of the accounts. Where also in
Ledger it goes into both the sides of Debit and Credit Note
of Transactions.
In another term it is also known as Contra Entry System.
The indian accounting principles are divided in to two
types accounting concepts, and conventions and one of the
of the accounting concept is dual aspect of accounting
system according to this system every journal entry should
be posted according to double entry system means for every
debit there should be equal credit to what comes in debit
it should comes in credit also and its a successful system
of double entry system
Dual Accounting is a double entry system,wherein both debit
and credit aspect of a transaction is recorded.Each
transaction has equivalent debit and credit ledger
dual accounting concept is nothing but double entry
system,where debit transactions will b recoreded in debit
side and credit transactions will b recorded in credit
side,finally ledger accounts will b prepared for both debit
and credit transactions.
DUAL ACCOUNTING IS ALSO CALLED AS DOUBLE ENTRY SYSTEM IT
STRARTED IN 1942 BY "LUCAPACLIO" AS PER INDIAN GAAP THE
DOUBLE ENTRY SYSTEM MEANS "EVERY DEBIT THRER MUST BE A
CORRESPONDING CREDIT"
EXAMPLE :
PURCHASED OD GOODS FROM Y AND CO.
IT MAINLY DESRIBES FROM THE GENERAL RULES OF ACCOUNTING
DEBIT THE RECEVIER CREDIT THE GIVER
DEBIT WHAT COMES IN CREDIT WHAT GOES OUT
Accounting method where two entries, one credit and one
debit, are made for each transaction. For example, if an
item of stock is purchased for £100, the payment of £100 is
reflected in the debit account, while the new item of stock
value of £100 is entered in the stock account. Under this
method of accounting assets equal liabilities, and a balance
sheet should balance the two.
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