The Modern Balance Sheet: An Analysis of Company Balance

Cover The Modern Balance Sheet: An Analysis of Company Balance
The Modern Balance Sheet: An Analysis of Company Balance
V St Clair Vivian St Clair Mackenzie
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At page 4 he states '* The end of Book-keeping is to give contentment unto the Book owner and to show him (or those whom they do concern) at all times and in every degree how his estate standeth in the so written Books." Schoolmaster Abroad. — Dafforne is precise on points of book-keeping. '^In place of the word Ballance " he writes : " I should rather enter estate Reckoning, for, by drawing the whole book to a head, I draw with one an account of my estate.'' He added "Ballance is either a tria...l or true EARLY WORKS ON BOOK-KEEPING. 21 balance " which " ariseth from the Remainers of the Ledger Accounts as well in Money unsold wares, voyages, not wholly sold Houses, Lands, People, &c., not yet compleatly perfected and are therefore transported to New Books to be there fully finished." In the present day these would be carried forward into a balance sheet, as assets, and those reading the accounts would assume that they were realised profits.
It will be useful to extract the following two entries in the form of Accounts given by Daffome in his dialogue between Pupil and Schoolmaster as illustrating his observations.


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