ABBREVIATED BOOKKEEPING

A · B · C · D · E · F · G · H · I · J · K · L · M · N · O · P · Q · R · S · T · U · V · W · X · Y · Z

Definitions

the term abbreviated bookkeeping has been used to mean bookkeeping which by-passed and ignored the use of personal accounts. In other words, the double entry is effected by entries made directly between the organization's bank account and another impersonal account of the organization. (BPL 14 Nov 70 VI)