You are a public accountant with many small business clients. During a recent visit to a client’s...

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Accounting

You are a publicaccountant with many small business clients. During a recent visitto a client’s business, the bookkeeper approached you with aproblem. The columns of the trial balance were not equal. Youhelped the bookkeeper find and correct the error, but believe youshould go one step further.
Requirement: Write amemo to all of your clients that explains (a) the purpose of thedouble-entry framework, (b) the importance of maintaining theequality of the accounting equation, (c) the errors that mightcause an inequality, and (d) suggestions for finding theerrors.
The document should bein a memo format, 12-font Times New Roman, and be between 500-750words.

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MEMO To Specify Client name From Public accountant Firmcompany name Subject Purpose of Double entry importance of equality in accounting system error causing inequality and suggestions on finding errors Point a The purpose of the doubleentry framework There are two type of system used for accounting ie Single entry system and double entry system In the later method the transaction are recorded in such a manner that for each debit amount there will be an entry for credit amount too for example if an asset is purchased on taking a loan will increase the asset on Debit side whereas gives increase in liability as well Double entry system is used to make financial statements in easy and fast manner See Answer

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