About this deck
Every economic event of consequence — a sale, a loan, a payroll, a depreciation — is recorded twice. Once on each side of the ledger. The mathematical insight that what comes in equals what goes out, applied with discipline across millions of entities, is the basis of modern capitalism's information system. Key sections include: Acco unting.; Opening The double-entry mirror.; Chapter I Pacioli, 1494.; Chapter II Debits and credits.; Chapter III The three statements.; Chapter IV Cash vs accrual.; Chapter V The matching of long-lived assets.; Chapter VI Generally Accepted Accounting Principles.; Chapter VII The international standard.; Chapter VIII The external auditor..