Excerpt from Accounting in Theory and Practice The object with which this book has been prepared is to supply the demand for a text-book dealing with the principles of advanced book -keeping and accounting. Accounting is a progressive science, and has made great strides within recent years. The cumbrous forms and vain repetitions of the Older systems Of accounting are giving place to improved methods which have been evolved through the desire to have the maximum of result with the minimum expenditure Of time and labour. Accountants, solicitors, investors, and all business men should be familiar with these improved methods. In fact, a knowledge of the science of accounting is of use to all who receive or pay away money, either for themselves or in trust for others, and there is no condition of life in which it will not be found of service. An attempt has been made to define as exactly as possible the various terms used in accounting. Many Of these terms are employed somewhat loosely, and this is most undesirable in a science which is an important branch of applied mathematics. A large number of examples and exercises have been given, together with the solutions. These serve to elucidate the principles, and will at the same time enable the student to effectively test his progress. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.