•  
  •  
 

Publication Date

October 2007

Abstract

Barter bookkeeping was employed well into the 20th Century in some rural communities of the U.S. Those who used it often did so because it was adequate for their needs, not because they were unfamiliar with the double entry system. One such individual, Benjamin Barns Sayle, employed both systems simultaneously, to address the needs of his different enterprises. His story and records illustrate an almost natural progression in the understanding and use of accounting records from the limited, simple but effective barter bookkeeping system to the more expansive double entry system by individuals. Sayle's experiences suggest that by emphasizing familiar barter transactions, students, even at the elementary school level might easily grasp some fundamentals of making journal entries. This paper suggests that simple barter bookkeeping exercises may be useful in engaging elementary school children in the AICPA 360 Degrees of Financial Literary Program and in developing a stronger appreciation for accounting. The simplicity of the system makes it easy enough for teachers with little background in accounting to grasp and employ as an enhancement to their existing curriculum.

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.