The document discusses the double entry accounting system. It defines double entry as every transaction affecting two accounts, with equal and opposite entries made to both. A ledger contains personal and non-personal accounts recorded from transactions. General ledgers contain non-personal accounts like expenses, while subsidiary ledgers separate debtors and creditors. Accounts are divided between debit and credit sides, with some accounts always increasing on one side.

1. BIT 163 INTRODUCTION TO ACCOUNTING CHAPTER FOUR

5. Illustration Capital Drawings Revenue Expenses Return Outwards Return Inwards Sales Purchases Liability Asset Credit (If the amount of the account increase) Debit (If the amount of the account increase)