The 2016 Color of the Year is â CLARET! How does Claret fit in the Fiesta family of colors? Quite nicely, we must say. Check out the entire spectrum here: Ivory, Slate, Sage, Claret, Scarlet, Poppy, Tangerine, Sunflower, Lemongrass, Shamrock, Turquoise, Lapis, Cobalt, Paprika, and White. Claret is a high-fashion color that fills a void in the Fiesta spectrum.
The fundamental concept underlying present-day bookkeeping and accounting. Double entry accounting is based on the fact that every financial transaction has equal and opposite effects in at least two different accounts.
Two notable characteristics of double-entry systems are that 1) each transaction is recorded in two accounts, and 2) each account has two columns. In a double-entry system, two entries are made for each transaction - one entry as a debit in one account and the other entry as a credit in another account. The two entries keep the accounting equation in balance so that: