Free Why the Best Accounting Firms Prefer Double-Entry Accounting New York City
- Location: New York City, New York, USA
Because every transaction has a corresponding entry, discrepancies become readily apparent. If a debit doesn't match a credit somewhere else, it raises a red flag. This inherent control mechanism makes it more difficult to manipulate financial statements, a critical feature for maintaining financial transparency and preventing fraud. Think of it as a silent alarm system within the books—any imbalance triggers a warning sign, alerting accountants to potential problems.
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