Double Entry

I. Formal Definition

The foundational technique of accrual accounting in which every economic transaction is recorded as a balanced pair of debit and credit entries across the chart of accounts. Double entry ensures that the accounting equation of assets equals liabilities plus equity is preserved at all times. The federation requires every entity of meaningful scale to operate on a double entry basis with periodic trial balance verification, journal entry workflow controls, and segregation of duties between posting and approval functions under UFMS-001:5.1.

II. Etymology

Crystallised by Luca Pacioli in his 1494 treatise Summa de Arithmetica, drawing on existing merchant practice in fifteenth century Venice and Genoa.

III. Federation Usage

Federation members operate on double entry basis with trial balance verification and journal entry controls. Segregation of duties between posting and approval is verified at audit. The federation publishes a minimum control catalogue under MEV-Annex:6.1 for steward tier reference.

IV. Related Terms

• journal-entry
• ledger
• trial-balance
• accrual-accounting

V. Authoritative Citations

• UFMS-001:5.1UFMS Article V - Double Entry
• MEV-Annex:6.1MEV Annex VI - Double Entry Compliance

VI. Citation in BibTeX

@misc{ifo4_glossary_double_entry,
  title        = {{Double Entry}},
  author       = {{IFO4 Federation Editorial Board}},
  howpublished = {{IFO4 Federation Glossary, slug \texttt{double-entry}}},
  year         = {2026},
  url          = {https://ifo4.org/glossary/double-entry},
  note         = {Category: Accounting; key: DoubleEntry}
}

VII. Challenge This Definition

Federation members and accredited practitioners may challenge any entry under TGS-002:1.7. Filed challenges are routed to the editorial board, triaged into the revision register, and resolved in writing on the public docket. The slug remains stable through any revision.