Changes

People who perform this task are called accountants.  This term is very broad in that will include a part time bookkeeping clerk or the Chief Financial Officer of a large public company.  Accountants may obtain a professional designation, Certified Public Accountant, or CPA, which confers certain rights and obligations.

People who perform this task are called accountants.  This term is very broad in that will include a part time bookkeeping clerk or the Chief Financial Officer of a large public company.  Accountants may obtain a professional designation, Certified Public Accountant, or CPA, which confers certain rights and obligations.

For centuries, accounting has employed what is called "double entry bookkeeping", in which every transaction is entered as both a debit and credit.  This is fundamental to the Accounting Equasion which is Assets - Liabilities = Equity.  

For millennia, accounting has employed what is called "double entry bookkeeping", in which every transaction is entered as both a debit and credit.  This is fundamental to the Accounting Equation which is Assets - Liabilities = Equity.  

While accounting used to be done by hand, on paper, it is much more frequently done using computer programs today.

While accounting used to be done by hand, on paper, it is much more frequently done using computer programs today.