Double-entry Bookkeeping versus Simple-entry Bookkeeping Ileana ANDREICA 1* 1 Faculty of Horticulture, University of Agricultural Sciences and Veterinary Medicine, Cluj-Napoca, 3-5 Manastur St., 400372 Cluj-Napoca, Romania *)Corresponding author, e-mail: i_andreica@yahoo.com BulletinUASVM Horticulture 73(2) / 2016 Print ISSN 1843-5254, Electronic ISSN 1843-5394 DOI:10.15835/buasvmcn-hort:11951 Abstract A financial management eficiently begin, primarily, with an accounting record kept in the best possible conditions, this being conditioned on the adoption of a uniform forms, rational, clear and simple accounting. Throughout history, there have been known two forms of accounting: the simple and double entry. Romanian society after 1990 underwent a substantial change in social structure, the sector on which put a great emphasis being private, that of small manufacturers, peddler, freelance, who work independently and authorized or as associative form (family enterprises, various associations (owners, tenants, etc.), liberal professions, etc.). They are obliged to keep a simple bookkeeping, because they have no juridical personality. Companies with legal personality are required to keep double entry bookkeeping; therefore, knowledge and border demarcation between the two forms of organisation of accounting is an essential. The material used for this work is mainly represented by the financial and accounting documents, by the analysis of the economic, by legislative updated sources, and as the method was used the comparison method, using hypothetical data, in case of an authorized individual and a legal entity. Based on the chosen material, an authorized individual (who perform single entry accounting system) and a juridical entity (who perform double entry accounting system) were selected comparative case studies, using hypothetical data, were analysed advantages and disadvantages in term of fiscal, if using two accounting systems, then were highlighted some conclusion that result. Keywords: authorized person, double-entry accounting, documents, legal person, simple-entry accounting, INTRODUCTION Double entry accounting appeared in Tuscany and northern Italy around the 1300s. Until then, the great ancient and medieval societies persisted without it. In the Middle Ages, the accounting books record chronologically, the receivables and debts without any classification. Single entry accounting, like balancing a check book, tallies only what goes in an aut of a single account. Double entry accounting, by contrast is a method of control and accurately calculating the profit, loss and the value of assets. It separates credit from debit.(Jacob Soll, 2014) The first notion of the double entry accounting has been adopted by Beneditto Cotrugli in 1458 in his book entitled „The Book Art of Trade”, where he included a brief chapter which described many of the feature of double entry bookeeping. After 36 years ago, in 1494, an franciscan monk and a math teacher, Luca Paciolli, that called „the father og accounting”, published a book intitulated „Summa” which included many chapters explaning the notion of double entry bookeeping. (E.Peragallo, 1938) Double entry bookkeeping has been shown to be reliable. Since 1494 not occured until now, significant changes in terms of double entry bookkeeping. It relies on debit-credit mechanism, viewed as a mathematical approach by Luca Paciolii in his work entitled „Summa”. (Sony Warsono, 2013). In essence, the double entry accounting, starts at the idea of the existence of a better equilibrium between what holds an entity and ECONOMICS AND RURAL DEVELOPMENT- RESEARCH ARTICLES