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
what are the procedure of job order costing

The company acquired 50000 8% preferencd shares (with a par value of R4 each) in cross limited on 30 june 2006 for R180000.transaction costs at the acquisition date amounted to R12

need help finding my retianed earnigns

A manufacturer of VCRs plans to purchase a particular component from suppliers A, B and C. 30% of the components are to be purchased from A, 20% from B and 50% from C. In the past,


Back to the workshop the previous problem but assuming that in each of the three stages of development, there is a certain probability that a major defect is detected. When such a

A consumer product firm finds that its brand of laundry detergent is losing market share, so it decides that it needs to "freshen" the product. One strategy is to maintain the curr

I have a midterm coming up the teacher is allowing us to have a front & back cheats on anything we want on it. Is there a way you guys can make me one?

Define Mortality: The following rates are used for measuring mortality. Crude death rate The annual crude death rate is defined asĀ  Crude death rate = annual deaths / annual

marginal costing and its break-event analysis