FIN611 Advanced Financial Accounting GDB No 1 Fall Semester 2012

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FIN611 Advanced Financial Accounting GDB No 1 Fall Semester 2012


Total Marks 5
Starting Date Wednesday, November 14, 2012
Closing Date Thursday, November 15, 2012


Topic to be tested:

· Origin of single and double entry system.

Learning objectives:

· To learn about the origin of single and double entry system.

· To get an insight into the scholarly debate on the two famous book-keeping system.

Discussion Question:

Origin of bookkeeping is still a mystery but we cannot disregard the valuable research of scholars on the evolution of book-keeping. Scholars have provided different arguments with logical reasons to unfold the reality. The article “Notes on the Origin of Double-Entry Book-keeping” is also one of the highly appreciated attempts in this regard.

You are advised to download the above mentioned article from the “download” tab of VU-LMS. Read it and answer the following questions.

1. Briefly describe the main crux of debate on the evolution of single entry and double entry book-keeping systems.

2. Which argument would you prefer on the evolution of single entry and double entry book-keeping systems and why? Support your answer with valid reasons.