Document Type
Article
Publication Date
1923
Abstract
The underlying principles of an adequate system of accounts for building and loan associations does not differ from that of any other business operated for profit. The adequacy of the system is largely determined by the science and intelligence of the classification of the accounts and the completeness and accuracy of the recorded transactions. The entire system of accounts are divided into three distinct groups or divisions as shown in the chart and are as follows: First Group, Balance Sheet accounts, or the asset and liability accounts; Second Group, Profit and Loss accounts or the expense and income accounts; Third Group, Net Worth accounts, or the shareholder's accounts.
Relational Format
article
Series Title
Address before: North Carolina Building and Loan League
Recommended Citation
Scott, George G., "System of accounts and reports for building and loan associations" (1923). Individual and Corporate Publications. 42.
https://egrove.olemiss.edu/acct_corp/42