Author: Kamrul Hasan Noor
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Chart of Accounts – How to Create, Categories
Managing finances efficiently is crucial for any business, and a well-structured Chart of Accounts (COA) is a key tool in achieving this. Understanding how to use and categorize your COA can simplify your accounting processes and provide clear insights into […]
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What statement is accurate regarding double entry bookkeeping?
In the world of finance and accounting, precision matters. In the modern age, most businesses and organizations follow double entry accounting systems for maintaining accurate and organized financial records. Double entry bookkeeping stands as the cornerstone of this financial record-keeping […]
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Limitations of Double Entry Accounting
The key limitations of double entry accounting are its complexity and missing key non-financial data. Double Entry Accounting is the cornerstone of financial management, offering a clear picture of your business’s financial health. Similar to how a coin has heads […]
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Advantages of Double Entry Accounting
The advantages of double entry accounting include enhanced accuracy, completeness, consistency, and transparency in financial records. Double entry accounting is the backbone of modern accounting practices. In the previous post, we have discussed about details of double entry accounting including […]
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What is Double Entry Accounting?
Double entry accounting records every financial transaction in two accounts: a debit in one and a credit in another. This method ensures the accounting equation balances. Double entry accounting is the cornerstone of modern financial record-keeping. It maintains balance by […]