Book-keeping is the meticulous recording and organization of a business's financial transactions. It provides a foundation for critical financial statements such as the profit and loss account and the balance sheet.
In book-keeping, 'brought down' (abbreviated as b/d) refers to an opening balance that has been transferred from the previous period to the current ledger.
In book-keeping, 'carried down' (**c/d**) refers to an amount that is to be transferred as the opening balance in the next accounting period.
Financial accounting is the branch of accounting concerned with classifying, measuring, and recording the transactions of a business, ultimately presenting the performance and financial position of a business through standardized financial statements.
The International Association of Book-keepers (IAB) is a professional association that offers qualifications and memberships for book-keepers and aims to standardize and enhance the professional practice of book-keeping and accounting worldwide.
