Excerpt from Account-Keeping in Principle and Practice The authors in the course of the general practice of their pro fession, and also in their experience of the educational side of accounting, have found a tendency to rule-oi - thumb methods in account-keeping, due in large measure to too exclusively teaching by example. While agreeing in general With this practical method of instruction, undue emphasis upon it leads to the study of the practice rather than the principles. This work has been prepared primarily to give a clear exposition of the prin ciples of book-keeping in a readable form to enable the student to grasp the nature of the transactions and the reasons, account ing and legal, underlying the accepted methods of dealing with them. In view of the giant strides being made in these days in accounting and business organisation generally, there is a great need for holding firmly to established principles and sitting more loosely to hard-and-fast rules, and the following chapters are therefore insistent on the principles rather than on the methods of application. These methods must be so elastic as to vary With the particular requirements of every business, Whether these variations be due to the nature of the business, its size, its constitution, or other general or special conditions under Which it is conducted. It is believed that the work Will contri bute to the efficiency not only of accountancy students, but of business men generally and those who are handicapped by not having made a systematic study of book-keeping but yet find themselves faced With accounting problems in their daily work. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.