double entry
[/ˈdʌbəl ˈɛntri/]
nounpl: double entries
partida dobrada
1. An accounting method in which every financial transaction is recorded in at least two accounts, with debits in one account and corresponding credits in another, ensuring the accounting equation (Assets = Liabilities + Equity) remains balanced
The company uses double entry bookkeeping to maintain accurate financial records.
A empresa usa o método de partida dobrada para manter registros financeiros precisos.
2. The fundamental principle that each transaction affects two or more accounts to maintain the balance sheet equilibrium
Understanding double entry is essential for anyone studying accounting.
Compreender a partida dobrada é essencial para qualquer pessoa que estude contabilidade.
Double entry bookkeeping is the international standard for accounting in both Brazil and the USA. It is legally required for most businesses and is fundamental to corporate financial reporting. In Brazil, the term 'partida dobrada' is standardized in accounting curricula and professional certifications (such as CRC - Conselho Regional de Contabilidade). In the USA, it is the foundation of Generally Accepted Accounting Principles (GAAP).
Related Idioms & Phrases
maintain double entry records
follow double entry principles
double entry system of accounting
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