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.
Debit and credit accounts. For each transaction, you record debits and credits. In other words, you record two or more entries for every transaction. This is double-entry bookkeeping. To do your bookkeeping, you separate your transactions into accounts. 1  These are five common accounts: 2  Assets: Something of value that you can convert into cash (e.g., property, cash, vehicles). 3  Expenses: Costs that occur during business operations (e.g., wages, supplies).