I personally think that trying to understand the debit and credit concept in accounting is near impossible when you are first confronted with it. Learning how to apply the debit and credit concept is far easier. You can be an outstanding bookkeeper or accounting student by just learning the application rules that are taught in […]
Tag archives for Venetian method
How can I better understand debit and credit?
category: Debits and Credits
tags: accounting equation, assets of the business, bookkeeper, books of a business, debit and credit, definitions, economic resources, financial transactions, Venetian merchants, Venetian method
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The history and definition of ‘Debits and Credits’ in accounting.
History of Debits and Credits ‘Debits and credits’ is a financial transaction classification system that was first used by the Venetian merchants in Italy in the 15th century. While it was widely used by the Venetian merchants, its took a mathematician by the name of Luca Pacioli to document and publish this system in a […]
category: History of Accounting
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