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.
Recommended Citation
Kreissl, Laura Jean
(2007)
"Natural path to the understanding and use of accounting: Barter bookkeeping and the double entry system, the case of Benjamin Barns Sayle,"
Accounting Historians Notebook: Vol. 30:
No.
2, Article 1.
Available at:
https://egrove.olemiss.edu/aah_notebook/vol30/iss2/1