Double-Entry Bookkeeping
Hi, An error in accounting can be costly. Especially in large companies, where there are many transactions, it is easy to overlook one. And when that happens, I might not even notice it. Perhaps the company is doing much better than the books indicate? Or maybe it’s actually unprofitable? Merchants in the 13th century recognized the problem. A system had to be found that would make errors less likely. They invented double-entry bookkeeping.