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Which accounting systems are you familiar with?
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Answer / ravi shankar
Just they are asking about the accounting systems we know
,and actually in India we use double entry system and in the
USA and other western countries they use single entry system...
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / rajaram kolle
You can simple say Mercantile system, which is nothing but
double entry system. Few country use Single entry system,
many countries use Mercantile system, as it is the modern
accounting system. Single entry system is very old.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / devindra bhattacharya
Accounting approach of AICPA(American Institute Of
Certified Public Accountant) is A+E=L+C+R which proves that
in USA double entry system is followed.Single entry have
been proven unscientific and,therefore,seldom followed in
USA.Rectify me if i am wrong with a valid statement,if
neccesary logical deduction can be given supporting the
statement
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ramaswamy
i am familier with the preparatoin of purchase, sales
ledger. i am able to prepare bank reconciliation statement.
and iam able to finalise accounts as per accounting
standards issued by the icai. and i can also prepare cash
book and all other ledger accounts. in journalising the
business transactions also i have well prepared.
| Is This Answer Correct ? | 4 Yes | 6 No |
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