Single Entry System

Single Entry System

Single entry system is a system of book keeping in which accounting records are not kept according to double entry principle of book keeping. It is also called Accounts from Incomplete Records. This system differs from firm to firm, as it is a mere adjustment of double entry system according to requ ....Read More

Conversion Method

Conversion method implies conversion of single entry system into the double entry system to ascertain important information regarding sales, purchases, cash/bank balance etc. so that Trial Balance and financial statements can be prepared. Steps for conversion involves preparation of opening statemen ....Read More

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