PART I

Like every other special branch of study, the Theory and Practice of Accounts has its own special vocabulary of technical terms. In all literature of accounting and business methods in general, these terms are frequently employed; and the student will find it not only advantageous, but in fact absolutely necessary, to familiarize himself thoroughly with their use. The commercial terms and definitions in the following list are the ones most commonly used in business. Great care has been exercised in preparing a list that is practical and in making the definitions clear. DICTIONARY OF COMMERCIAL TERMS _Acceptance_--When a draft or bill of exchange is presented to the payer, he writes across the face "Accepted" or "Accepted for payment at ..." and signs his name. It is then termed an acceptance. _Accommodation Note_--A note given without consideration of value received; usually done to enable the payee to raise money. _Account_-- (_a_) A statement of debits and credits. (_b_) A record of transactions with a particular person or persons, or with respect to a particular object. _Account Books_--Books in which records of business transactions or accounts are kept. _Account Current_--An account of transactions during the present month, week, or other current period. An open account. _Account Sales_--A statement in detail covering sales, expenses, and net proceeds made by a commission merchant to one who has consigned goods to him. _Accrued; Accrued Interest_-- (_a_) Accumulated interest not payable until a specified date. (_b_) Accumulated rent. [Illustration: Specimen Account] _Acknowledgment_--A certificate to the genuineness of a document signed and sworn to before an authorized official, as a Notary Public. _Administrator_--One appointed by the court to settle an estate. _Ad Valorem_--According to value. A term used to indicate that duties are payable on the value rather than on the weight or quantity of articles. _Adventure_--As used in business, this term signifies a venture or speculation. [Illustration: Account Sales] _Advice_--Information with reference to a business transaction; notice of shipment; notice of draft. Transmitted by letter or telegram. _Affidavit_--A statement or declaration made under oath, before an authorized official. _Agent_--One authorized to act or transact business for another. _Agreement_--A mutual contract entered into by two or more persons. [Illustration: Acknowledgment] _Allowance_--An abatement; a credit for inferior goods, error in quantity, etc. _Annual Statement_--A yearly summary of the transactions of a business. _Annuity_--An amount payable to or received from another each year for a term of years or for life. _Antedate_--To date a document or paper ahead of the actual time of its execution. _Appraise_--To place a value on goods or property. An estimate made for the purpose of assessing duties or taxes. _Appreciation_--An increase in value. Real estate may increase in value on account of the demand for property in the immediate vicinity. _Approbation_ or _Approval Sales_. Goods delivered to customers with the understanding that if not found satisfactory they are to be returned within a definite period and without payment. _Articles_--A collection of merchandise; parts of a written agreement, as "Articles of Association." _Arbitrate_--To determine or settle disputes between two or more parties, as settlement of differences between employer and employees. _Assets_--All of the property, goods, possessions of value of a person or persons in business. _Assign_--To transfer or convey to another for the benefit of creditors. _Assignee_--The person to whom the property or business is transferred. Usually acts as a trustee of the creditors. _Assignment_--The debtor's transfer or conveyance of his property to a trustee. _Assignor_--The debtor who makes an assignment, or transfers property for the benefit of creditors. _Association_--A body organized for a common object. _Attachment_--A legal seizure of goods to satisfy a debt or claim. _Auxiliary_--Books of record other than books of original entry or principal books of account. Books used for purposes of distribution or the gathering of statistics are "auxiliary" books. _Audit_--To verify the accuracy of accounts by examining or checking records pertaining thereto. _Average_--As applied to accounts, the mean time which bills of different dates have to run, or an average due date for several accounts. Determining the due date is sometimes referred to as averaging accounts. _Balance_--The difference between the debit and credit sides of an account. To close an account by entering the amount on the lesser side necessary to make the two sides balance. _Balance Sheet_--A statement or summary in condensed form made for the purpose of showing the standing or condition of a business. _Balance of Trade_--The balance or difference in value between the imports and exports of a country. _Bale_--The form in which certain commodities are marketed. A bale of cotton, bale of hay, etc. _Bank Balance_--The net amount to the credit of a depositor at the bank. _Bank Note_--A note issued by a bank, payable on demand, which passes for money. _Bank Draft_--An order drawn by one bank on another for the purpose of paying money. _Bank Pass-Book_--A small book furnished to a depositor by his bank, in which are entered the amounts of deposits and sometimes the checks or withdrawals. _Bankrupt_--A person, firm, or corporation whose liabilities exceed their assets; who are unable to meet their obligations. _Bill_--A statement or record of goods bought or sold, or of services rendered. [Illustration: Bill] _Bill of Exchange_--An order on a given person or bank to pay a specified amount to the person and at the time named in the bill. The term is more commonly used to apply to orders on another country, being made in triplicate. _Bill of Lading_--A receipt issued by the representative of a common carrier, for goods accepted for transportation to a specified point and at a given rate. It is a contract, and, when transferred to a third party, becomes an absolute title to the goods. [Illustration: Bill of Lading] _Bill of Sale_--A written document executed by the seller, transferring title to personal property. _Bill Head_--The blank or form on which a bill is made. For illustration, see Bill. [Illustration: Bill of Exchange] _Bills Payable_--Promissory notes and acceptances which we are to pay. _Bills Receivable_--Promissory notes and acceptances which are to be paid to us. _Blanks_--Papers or books ruled or printed in suitable form for business records. _Blotter_--A book in which are entered memoranda of transactions which are later copied into other books. Also known as a _day book_. _Bond_--A written agreement binding a person to do or not to do certain things specified therein. A negotiable instrument secured by mortgage or other security, binding the maker to pay certain sums on specific dates. _Bonded Goods_--Goods stored in a government warehouse, or in bonded cars, bonds having been given by the owner for the payment of import duties or internal revenue taxes when removed. _Bonus_--An amount paid in excess of the sum originally agreed upon. A premium or gift--for example, a sum paid to a salesman as extra compensation for making a certain number of sales. _Book Account_--A charge or evidence of indebtedness on the books of account not secured by note or other written promise. _Brand_--A class of goods. A symbol or name used to designate a specific article. A trade mark. _Broker_--One who acts as agent or middleman between buyer and seller. _Brokerage_--The commissions or fees paid the broker for his services. Also a term used to designate his business. _Bullion_--Uncoined gold or silver. _Call Loans_--Loans made payable on demand or when called for. _Cancel_--To render null and void; to annul. _Capital_--Property or money invested in a business. _Capital Stock_--A term used to indicate the subscriptions of all stockholders to the capital of a corporation. _Cartage_--The charges made for hauling goods by wagon, or otherwise than by freight or express. _Cash Sales_--Sales for which immediate payment is received in contradistinction to sales of goods on credit. [Illustration: Bill of Sale] _Certificate of Stock_--A written statement or declaration of the purchase of a specified number of shares of the capital stock of a corporation. An evidence of ownership. _Certified Check_--A check, the payment of which is guaranteed by the bank on which it is drawn. _Charges_--The expense involved in handling goods or in performing a specific act--as, for example, charges for storage, freight charges, etc. Also a synonym for _debits_. _Chart_--A classified exhibit of the components of a business organization, showing the authority and responsibilities of the members. Grouping of the accounts of a business with respect to their relation to one another. _Charter_--To hire a car, ship, or other instrument of transportation. A document defining the rights and duties of a corporation. _Check_--An order on a bank to pay to a certain person, or to the order of such person, a specified sum, which sum is to be charged to the account of the drawer of the check. _Clearing House_--An exchange established by banks in cities, for their convenience in making daily settlements. The checks and drafts on the different banks are exchanged without the formality of presenting them personally at each bank. A balance is found, and this amount only is paid in cash. _Closing an Account_--Making an entry that will balance the account. _Collateral_--Pledges of security--as stocks, bonds, etc.--to protect an obligation or insure the payment of a loan. _Commission_--A percentage or share of the proceeds allowed for the sale of merchandise--as the pay of a commission merchant for selling a car of flour. _Commission Merchant_--One who sells goods on commission. Similar to a broker. _Commercial Paper_--Negotiable paper used in business. _Common Law_--Law based upon the precedent of usage, though not contained in the statutes. _Company_--A corporation; also used to designate partners whose names are not known. _Compromise_--To settle an account for less than the amount claimed. To agree upon a settlement. [Illustration: Certificate of Stock] _Consideration_--The price or money paid or to be paid which induces the entering into a contract by two or more persons. _Consignee_--The party to whom goods are shipped. A person to whom goods are sent to be sold on commission is a consignee. The goods so sent are known as a _consignment_, and the sender is the _consignor_. _Consul_--An agent of the Government, residing in a foreign part, who guards the interests of his own Government. _Contra_--On the opposite side--as a contra account. _Contract_--A written agreement between two or more persons to perform or not to perform some specified act or acts. _Contingent Assets and Liabilities_--Resources or liabilities whose value depends upon certain conditions. _Contingent Fund_--A sum put aside to provide for an anticipated obligation; a reserve fund. _Conveyance_--A term used to describe certain forms of legal documents transferring from one person to another, title to property or collateral. _Copyright_--A right granted to an author or publisher to control the publication of any writing, or the reproduction of a photograph, painting, etc. _Counterfeit_--A spurious coin, or bank or treasury note. _Coupon_--A certificate detached from a bond, which entitles the holder to the payment of interest. _Coupon Bond_--Bonds to which are attached coupons calling for the payment of interest. The coupons, when detached, become negotiable paper. _Credentials_--Letters or testimonials conveying authority. _Creditor_--One whom we owe; one who gives credit. _Currency_--The coin or paper money constituting the circulating medium of a country. _Debenture_--A certified evidence of debt. See Bond. _Debit_--To charge; to record an amount due. _Deed_--A written document or contract transferring title to real estate. _Defalcation_--The appropriating to one's own use, of money intrusted to him by another; embezzlement. _Deferred Bonds_--Bonds which are to be paid when some condition is fulfilled in the future. _Delivery Receipt_--An acknowledgment of the delivery of goods. Largely used by merchants in the delivery of goods to customers. _Demand Note_--A promissory note or acceptance payable on presentation or on demand. [Illustration] _Deposit_--The money placed in custody of the bank, subject to order. _Depreciation_--A reduction in the value of property. In a manufacturing plant, buildings and machinery depreciate in value through wear and tear; a residence property may depreciate owing to the nature of a nearby building. [Illustration: Delivery Receipt] _Discount_--An allowance or abatement made for the payment of a bill within a specified period. The interest paid in advance on money borrowed from a bank. _Dishonor_--Refusal to accept a draft, or failure to pay a written obligation when due. [Illustration: Demand Note] _Dividend_--The profits which are distributed among the stockholders of a corporation. _Draft_--A written order for the payment of money--usually made through some bank. _Drawer_--The person by whom the draft is made; the one who requested the payment of money by the drawee. _Drayage_--Synonymous with cartage. _Due Bill_--A written acknowledgment of an amount due; of the same effect as a demand note. _Dunning_--Soliciting or urgently pressing the payment of a debt. _Duplicate_--A copy of a paper or document; the act of making a copy. _Duty_--The tax paid on imported goods. _Doubtful_--Of questionable value. We refer to an account as "doubtful" when we question the likelihood of its payment. [Illustration: Draft] _Earnest_--An advance payment, applying on the purchase price, made to bind an oral bargain. _Embezzlement_--See Defalcation. _Exchange_--The charge made by a bank for the collection of drafts or checks. _Exports_--Commodities sent to another country. _Extend_--To set a later date for payment; to add several items and carry the totals to the proper column. _Face Value_--The amount for which a commercial paper is drawn. _Facsimile_--An exact duplicate or exact copy. _Financial Statement_--A term used in the same sense as _balance sheet_ or _annual statement_. _Fiscal_--A financial or business year, in contradistinction to a calendar year. The fiscal year of a business may commence and end on any date--usually on the date on which it was started. _Fixed Assets_--Permanent assets acquired by a firm or corporation to enable them to conduct a business. Includes real estate, building, machinery, horses and wagons, etc. _Fixed Charges_--Those charges in connection with the operation of a business which occur at regular intervals, such as rent, taxes, etc. _Fixtures_--A fixed asset represented by that part of the furniture not readily removable, such as gas and electric light fixtures. _Folio_--A column provided in account books, in which to enter the page numbers of other books from or to which records are transferred. _Footing_--The sum or amount of a column of figures. _Foreign Exchange_--Drafts on foreign cities. _Freight_--The charges paid for the transportation of goods. _Gain_--The increase in value of assets or profit resulting from a transaction or transactions. _Gauging_--Measuring the liquid contents of casks or barrels. _Going Business_--A term used to designate a business in actual operation. Goodwill or the reputation of a business has a value so long as the business is in operation, or keeps going. When a business is discontinued, only the physical assets or actual properties owned by the business are of value. _Good Will_--The monetary value of the reputation of a business over and above its visible assets; the value of a business name. _Gross_--The entire amount in contradistinction to the net amount--as gross weight or gross profit. _Guarantee or Guaranty_--Surety for the maintenance of quality or the performance of contracts. _Honor_--To pay a promissory note when due; to accept or pay a draft. _Hypothecate_--To deposit as collateral security for a loan. _Import_--To bring goods into the country. _Income_--The receipts of a business. _Income Bonds_--Bonds on which the payment of interest is contingent on profits earned. If the interest is passed on account of lack of funds, the holder of the bond has no claim. _Indemnity_--Security against a form of loss which has occurred or may occur--as fire insurance, against loss by fire. _Indorse_--To guarantee the payment of commercial paper by writing one's name on the back. _Indorsee_--The person to whom a paper is indorsed. [Illustration: Lease] _Indorser_--The person who guarantees payment; the one who indorses. _Infringe; Infringement_--To trespass upon another's rights--as infringement of a patent or copyright. _Installment_--An account or note the payment of which is to be made in several parts, at stated intervals. _Insolvent_--Unable to pay one's obligations. _Instant_--Principally used in correspondence to indicate the present month. _Insurance Policy_--A contract between an insurance company and the insured. _Interest_--The sum or premium paid for the use of money; one's share in a business or a particular property. _Inventory_--An itemized schedule of the property or goods belonging to a business. _Investment_--Money paid for goods or property to be held; not for speculation. _Invoice_--A list of goods bought or sold. See Bill. _Jobber_--One who buys from manufacturers and sells to retailers; a middleman. _Job Lot_--An incomplete assortment of goods to be disposed of in a lump. Usually indicates small portions or remnants of a stock, the bulk of which has been sold. _Joint Stock_--Property owned in common by several individuals known as stockholders. _Leakage_--An allowance for waste of liquids in transit; refers particularly to liquids shipped in casks. _Lease_--A written agreement covering the use of property during a specified period, at a stated rental. _Legal Tender_--The lawful amount to be offered in payment of an obligation. Bank notes or other currency which passes for money. _Lessee_--One who receives a lease. The _lessor_ makes it. _Letter of Advice_--A letter giving notice of some act in which the one receiving the advice has an interest--as making a shipment, notice of draft, etc. _Letter of Credit_--A letter which authorizes the receiving, by the holder, of credit to a stated amount. Principally used by travelers to secure credit from foreign bankers. _Liabilities_--The obligations or debts of a firm, corporation, or individual. _License_--Permission, usually granted by a municipality, to conduct a specified business. _Liquidation_--The closing-out of a business or an estate. _Loss and Gain_--The amount of profits or losses of a business. _Maker_--One who signs a note. _Manifest_--A list or schedule of the articles in a ship's cargo, or of the goods comprising a shipment. [Illustration: Order] _Maturity_--The time when an obligation or an account is due. _Mercantile Agency_--A company which obtains and keeps for the use of its customers information showing the standing of business firms. _Merchandise_--The stock in trade, or goods bought to be sold again. _Money Order_--An order instructing a third party to pay money to the person named. A form in which money is transmitted. _Monopoly_--The exclusive control of the manufacture or sale of an article. _Mortgage_--A temporary transfer of title to land, goods, or chattels to secure payment of a debt. _Mortgagor_--One who gives a mortgage. The one to whom the mortgage is given is the _mortgagee_. _Negotiable_--An agreement or any commercial paper which can be transferred by delivery or endorsement--as a bank note or promissory note. _Net_--Less all charges or deductions. _Gross_ assets less liabilities leaves _net_ capital; _gross_ income less all expenses leaves _net_ profit; etc. _Nominal_--Having no actual existence; exists in name only. _Obligation_--Indebtedness. _Open Account_--An account which has not been paid. _Opening Entries_--The entries made in the books when it is desired to open the accounts of a business. _Option_--The right to be the first purchaser; a privilege. _Orders_--Requests for the shipment of goods. _Original Entry_--The first record made of a charge or credit which becomes the basis of proof of the account. _Overdraw_--To draw a check for a greater amount than the drawer has on deposit in a bank. _Par_--Face value. _Partnership_--A firm; a union of two or more persons for the transaction of business or the ownership of property. _Payee_--The one to whom money is to be paid. The one who pays the money is the _payer_. _Per Annum_--By the year. _Per Cent_ or _Per Centum_--By the hundred. _Per Diem_--By the day. _Personal Account_--Any account with an individual, firm, or corporation. _Personal Property_--All property other than real estate. _Petty Cash_--A term used to signify small expenditures in actual cash. _Postdate_--To date ahead; after the real date. _Post_--To transfer amounts from books of entry to the ledger, which is the book of final record. _Power of Attorney_--Authority to act for and in the name of another in business transactions. _Preferred Stock_--Stock which participates in the profits before any dividend can be paid on the common or ordinary stock. _Premium_--The amount paid above par value; the amount paid to an insurance company for insurance against loss. _Present Worth_--The net capital of an individual. _Proceeds_--The amount realized from a sale of property. _Profit and Loss_--Synonymous with loss and gain. _Promissory Note_--A promise, signed by the maker or makers, to pay a stated sum at a specified time and place. [Illustration: Promissory Note] _Pro Rata_--A distribution of money or goods in proportionate parts. _Protest_--A formal notice acknowledged before a notary that a note or draft was not paid at maturity, and that the maker will be held responsible for the payment. _Quotation_--A price named for a given article or for services. _Ratify_--To approve; to sanction the acts of an agent. _Raw Material_--Material to be manufactured into other products--as iron ore, pig iron, lumber, etc. _Real Estate_--Primarily refers to land, although buildings are frequently included. _Rebate_--An allowance or deduction. See Allowance. _Receipt_--An acknowledgment that money or something of value has been received. _Receiver_--One appointed to take charge of the affairs of a corporation, either solvent or insolvent, and administer its affairs under orders of the court. _Remittance_--Money or funds of any character transmitted from one place to another. [Illustration: Power of Attorney] _Renewal Note_--A new note given to take the place of a note that is due. _Rent_--A payment for the use of property owned by another. _Resources_--Synonymous with assets. _Revenue_--Income of a business. _Revoke_--To recall authority of another to act as agent. _Royalty_--A stipulated amount paid to the owner of a mine, patent, copyright, etc., usually based on sales. The owner of a copyright receives a royalty based on the number of books sold. [Illustration: Receipt] _Schedule_--Inventory of goods or statement of prices. _Sight Draft_--A draft payable on presentation or at sight. _Solvent_--Able to pay one's debts. _Statement_--Commonly used to designate a list of bills to customers during a stated period. Also used to designate a financial summary showing profits and losses of a business. _Stockholder_--An owner of stock in a corporation or joint stock company. _Storage_--The charge for keeping goods in a store or warehouse. _Surety_--One who has guaranteed or made himself responsible for the acts of another. _Syndicate_--A combination of capitalists, usually temporary, for the conduct of some financial enterprise. _Tare_--The amount deducted from gross weights to cover weight of packages--as crates, boxes, barrels, etc. _Tariff_--A schedule of prices, as freight tariff. The duties imposed on imports or exports. _Terms_--The conditions governing a given sale. "Terms cash" means that payment is to be made as soon as goods are delivered. _Tickler_--Memoranda of matters requiring attention in the future, arranged according to dates. _Time Draft_--A draft which matures at some future date. _Trade Discount_--The discount allowed by a manufacturer to a jobber or by a jobber to a retailer. [Illustration: Statement] _Trade Mark_--See Brand. _Ultimo_--Principally used in correspondence to designate last month. _Valid_--Legal or binding; usually applied to a properly executed contract. _Value Received_--Used in notes to indicate that value has been given. _Void_--Without legal force; not binding. _Voucher_--A receipt; a document which proves the accuracy of an account or the authority for an expenditure. [Illustration: Voucher] _Warehouse_--A building used for storage purposes. _Warehouse Receipt_--A document acknowledging the receipt of goods for storage in a warehouse. _Warranty_--An agreement to assume responsibility if certain facts do not prove as represented. _Way Bill_--A document containing a list of goods shipped by a railroad. _Wholesale_--A business which sells goods in large quantities, usually in original packages and to the trade only. _Working Capital_--The capital actually used in the active operations of a business. COMMERCIAL ABBREVIATIONS The commercial abbreviations in the following list are in constant use in the various lines of trade, and should be thoroughly understood by the student of accounting. A 1 First-class acct. Account ad Advertisement Agt. Agent amt. Amount Ans. Answer Art. Article asstd. Assorted Ass't. Assistant Atty. Attorney bal. Balance bbl. Barrel B. B. Bill Book bds. Boards bdls. Bundles bgs. Bags bk. Book bkt. Basket B. L. or B/L Bill of Lading bls. Bales bot. Bought B. P. or B/P Bills Payable bro't. Brought B. R. or B/R Bills Receivable B. Ren'd. Bill Rendered bu. Bushel bx. Box C. B. Cash Book ¢ or cts. Cents chgd. Charged c. i. f. Cost, Insurance, and Freight ck. Check cks. Casks, Checks Co. Company C. O. D. Collect on delivery Coll. Collect or Collector Com. Commission Com'l. Commercial Cons'd. Consigned Const. Consignment Cr. Credit or Creditor ctg. Cartage cwt. Hundredweight D. B. Day Book Dept. Department dft. Draft dis. or Disc't. Discount div. Dividend do. or ditto The Same doz. Dozen Dr. Debit or Debtor ds. Days ea. Each E. E. Error excepted E. and O. E. Errors and omissions excepted e. g. For example Ent. Entry or Enter Ent'd. Entered etc. or &c. And others; And so forth Exch. Exchange ex. Express exp. Expense Exr. Executor f. o. b. Free on board fol. Folio; Page of a book f'd, ford. Forward frt. Freight ft. Foot, Feet gal. Gallon gr. Grain gro. or gr. Gross guar. Guaranteed hdkf. Handkerchief hhd. Hogshead hund. Hundred I. B. Invoice Book in. Inches Ins. Insurance Inst. Instant (this month) int. Interest inv. Invoice invt. Inventory I. O. U. I owe you; A due bill J. Journal lb. Pound lbr. Lumber lab. Labor Manf. Manufacture Mdse. Merchandise Mem. Memorandum Mfd. Manufactured Mfst. Manifest Mfr. Manufacturer Mo. or mo. Month Mtg. Mortgage Ms. Manuscript Mut. Mutual Nat. or Nat'l. National N. B. Take notice No. Number N. P. Notary Public, Net Proceeds O. B. Order Book O. K. All Correct; Approved oz. Ounce p. Page pp. Pages pay't or pm't. Payment pc. Piece pcs. Pieces P. B. Pass Book P. C. B. Petty Cash Book pd. Paid per. By; By the per an. By the year pk. Peck pkg. Package pop. Population pref. Preferred Prem. Premium Pro. Proceeds prop'r. Proprietor prox. Next Month P. S. Postscript pub. Publisher Qr. or qr. Quarter, Quire Qt. or qt. Quart rec'd. Received ret'd. Returned R. R. Railroad Ry. Railway S. B. Sales Book S. E. Single Entry Sec. Secretary Shipt. Shipment Shs. Shares Sig. Signature S. S. Steamship s. s. To wit; Namely St. dft. Sight Draft Sund. Sundry Supt. Superintendent sq. Square T. B. Trial Balance; Time Book ult. Ultimo; Last month via. By way of viz. Namely Vol. Volume vs. Against W. B. Way Bill Wk. Week Wt. or wt. Weight yr. Year yd. or yds. Yard or Yards COMMERCIAL SIGNS AND CHARACTERS The signs and characters most commonly used in business are the following: @ To or At a/c Account B/L Bill of Lading B/R Bills Receivable or Bill Rendered B/P Bills Payable B/S Bill of Sale ¢ Cents c/o Care of D/D Days after date D/S Days after sight F/B Free on board J/A Joint Account L/C Letter of Credit L/M Letters of Marque £ Pounds Sterling o/c On account o/c Out of courtesy % Per cent p Per $ Dollars # Number, if written before a figure, as #25; Pounds, if written after, as 25# [check mark] Check Mark " Ditto ° Degrees ' Prime; Minute; Feet " Seconds; Inches; also used as Ditto marks 1¹ One and one-fourth 1² One and one-half 1³ One and three-fourths + Plus - Minus × By or times ÷ Divided by = Equals DEFINITION AND OBJECTS OF BOOKKEEPING