An account is the basic and fundamental element of any accounting, either that of a company, business, or the personal of each individual, also becoming the main register in which the increases and decreases that some value, asset, liability or stockholders' equity may suffer as a result of the operations that the company, business or person is doing, as appropriate.
Obviously and with the aim of having an oiled control over the values that are available and the justified reason for those values that are leaving, this record must be done in a clear, orderly and understandable way and then put it in the general and not Of course we do not have any difference for or against and be aware of the financial status of our company or our staff.
In the accounts, then, all commercial transactions will be classified that take place in a company for example, in order to translate them in an orderly manner in the corresponding accounting book and also to have a complete measurement of the assets, rights and obligations that are available or will be available on a certain date.
Each element that makes up someone's heritage will be represented graphically with the letter T and it will be placed at the top, since both the right and left sides will be occupied as we will explain below. This Annotation modality was adopted in Renaissance Italy, which is where accounting as tto the.
On the left margin, also known as the Debt column, the origins of the resources will be indicated and on the right or Credit, the applications of the resources will be listed, this is when the company makes a purchase x, requests a loan or acquires the obligation to pay something for example, will then be placed on the right side.
There are two types of accounts, management and equity. In the case of equity, these will appear on the company's balance sheet and may form part of both the liabilities and the assets of the company. On the other hand, those of management reflect the expenses and income and will be made evident in the profit and loss account.
