While he was not the first economist to work in this field, he was the first to do so withdoubleentryaccounting.
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He introduced many economic reforms including use ofdoubleentryaccounting, joint stock corporations and modern note-issuing banks.
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The unique objectives of government accounting do not preclude the use of thedoubleentryaccountingsystem.
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By the principles ofdoubleentryaccounting, an entry in the current account gives rise to an entry in the capital account, and in aggregate the two accounts automatically balance.
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