Major advantages of the single entry system, accounting, Basic Statistics

What are the major advantages of the Single Entry System?

Ans. A Single Entry system is considered to be the most simplest method to record the financial transaction, only cash book is required no subsidiary books like purchase credit, Sales Credit, Bills Receivable, Bills Payable Book are required so this system proves to be cheaper than Book Entry System.

In order to do the book keeping under the single entry system, no special knowledge is required, only basic knowledge of the accounting is enough so no special technical executives are required to deploy for the accounting purpose. It saves the manpower and its cost for an organziaiton.
Posted Date: 3/26/2012 1:04:02 PM | Location : United States







Related Discussions:- Major advantages of the single entry system, accounting, Assignment Help, Ask Question on Major advantages of the single entry system, accounting, Get Answer, Expert's Help, Major advantages of the single entry system, accounting Discussions

Write discussion on Major advantages of the single entry system, accounting
Your posts are moderated
Related Questions

Bond Relationship A debt gadget issued through a official or just the formal legal procedure and secured either by the pledge of detailed properties or revenues or by the general

report on comparing information system in organisations

uses of time series with example

Consider a multiple regression model Y=ß0+ß1X1+ß2X2+µ The sample data yields the following matrices: X’X= { ¦(33&0&0@0&40&0@0&20&60) } Y’X=¦((132&24&92)) ?(y-Y)2 =150 a. what

What are the differences between Histogram and Historigram, list out the points.


Question: Data entry clerks at ARCO key in thousands of insurance records each day.  They have just completed a new training program and want to establish a control chart based

1. Suppose that there is a Beta(2,2) prior distribution on the probability µ that a coin will yield a "head" when spun in a speci?ed manner. The coin is independently spun 10 times

The ABC Company''s old equipment for making subassemblies is worn out. The company is considering two alternatives: a) Completely replacing the old equipment with new equipment b)