Dual Track Approach in Accounting

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A dual track approach in accounting is typically one used for small businesses. Find out about a dual track approach in accounting with help from a longtime and experienced accountant in this free video clip.

Part of the Video Series: Understanding Finance & Accounting
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Video Transcript

Hi, I'm Lori Greer from Atlanta, Georgia and I'm here to discuss the duel track approach in accounting. Government entities use accounting principals that are different from those used by small businesses. Small businesses usually perform all accounting using one system and one set of ledgers. Most government entities cannot do this because of the number of transactions and accounts they handle. Thus government accountants using a duel track approach, they examine each source of a government entities funds and liabilities related to those funds as well as report all the revenue the government entity takes in. I'm Lori Greer from Atlanta, Georgia, and that's the duel track approach to accounting.

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