Glossary
Technical Foundations
Double Entry Accounting
Double-entry accounting is a form of bookkeeping where each and every financial transaction is entered twice into counter-balancing opposite accounts – a debit entry and a credit entry. A loan taken by a company would be accounted for as a debit to the cash account (to account for the increase in cash due to receipts on the assets side of the balance sheet) and credit to a financial liability account on the liabilities side.