What is another word for double-entry bookkeeping?
Pronunciation: [dˈʌbə͡lˈɛntɹi bˈʊkkiːpɪŋ] (IPA) 
Double-entry bookkeeping is a commonly used method of accounting in which each financial transaction is recorded in two different accounts. It ensures that the total debits equal the total credits in a financial statement. However, there are several synonyms for double-entry bookkeeping, including dual-entry bookkeeping, two-fold bookkeeping, and two-sided bookkeeping. These terms all refer to the same system of accounting, which is used by individuals, businesses, and organizations worldwide. Adopting this method of accounting improves the accuracy and reliability of financial statements, which helps in financial analysis and decision-making. Regardless of the name used, double-entry bookkeeping remains the backbone of modern accounting.
