Wednesday, July 27, 2011

The two 'opposite' impacts

Romancing the Balance Sheet
Anil Lamba

If accounting is clerical, finance is intellectual

Debit and credit are two commonly used, yet greatly misunderstood, accounting words, laments Anil Lamba in Romancing the Balance Sheet. Stating that he has rarely come across anybody who can confidently attribute a meaning to each of these words, he informs that there is invariably a feeling that one is a gain, the other a loss; and that one is positive, and the other, negative.


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