What is Single-Entry Bookkeeping? Understanding the Basics of Simplified Accounting
The Tang dynasty’s extensive conquests and polyglot court required new mathematics to manage a complex bureaucratic system of tithes, corvee labor and taxes. Abbasid scholars implemented their algebraic double-entry bookkeeping into operations of many of the Tang ministries. The Tang dynasty expanded their maritime presence across the Indian Ocean, Persian Gulf, and Red Sea, and up the Euphrates River.22 On land they conquered much of what is today’s China. A company can use its balance sheet to craft internal decisions, although the information presented is usually not as helpful as an income statement. A company may look at its balance sheet … Continue reading
