The fundamental principles of accounting, that is, the principle of double entry and the accounting
The fundamental principles of accounting, that is, the principle of double entry and the accounting equation, ensure that the financial books are kept in very good order. For this reason, this constitutes the double-entry bookkeeping system that businesses all around the globe adopted in recording their financial transactions. In the article below, we delve deeper into these principles, showing how they operate and why they are crucial when balancing financial statements.