I was recently approached by one of my grandsons who asked me what I knew about double-entry book-keeping. He was doing a management course at work, and as part of that course he had to understand the double-entry book-keeping system used by the company he was working for. Most companies these days use software to do their accounts, but sometimes these make the principles behind the software hard to grasp.
I make no claim to be a professional book-keeper or accountant, but at various times in my life I have been called upon to maintain the books for various charities and companies. In my earlier life these were mainly paper based accounts, but in later years they were software based. I gave my grandson the benefit of my experience, and to help him digest what I had told him I wrote it all down for him. This brief book is the result, published in the hope it may help others in similar positions that are completely new to basic accounting and book-keeping.
Using a simple set of sample figures the book explains two different methods of single-entry book-keeping and looks at the limitations of those methods. It then goes on to use the same figures to produce double-entry accounts and looks at the advantages. The learning process is reinforced by a couple of exercises that help you to learn double-entry book-keeping concepts, and concludes with information on how students can take matters further.