Let's review the basics of Pacioli's method of bookkeeping or double-entry accounting. Learn more. The terms debit (DR) and credit (CR) have Latin roots: debit comes from the word debitum, meaning "what is due," and credit comes from creditum, meaning "something entrusted to another or … (Today, accountants and bookkeepers use the term debit, but five centuries ago in Italy, the term included the letter "r".). Business acumen ("Business savvy" and "business sense" are often used as synonyms) is keenness and quickness in understanding and dealing with a "business situation" (risks and opportunities) in a manner that is likely to lead to a good outcome. During his 35 years in the university classroom, he taught courses including English composition, rhetoric, business communication, creative nonfiction, and literature. 23, 2020. In accounting, what is the meaning of dr.? Merriam-Webster’s Dictionary (which accepted “TL;DR” as a word in 2018) claims that the word was first used in 2002, but provides no evidence to support its claim. One theory asserts that the DR and CR come from the Latin past participles of debitum and creditum, which are debere and credere, respectively. MD definition: 1. abbreviation for Doctor of Medicine: a degree that someone must have to work as a doctor, or a…. Double entry is an accounting term stating that every financial transaction has equal and opposite effects in at least two different accounts. IBM has created a template to produce a basic disaster recovery plan. Disaster recovery (DR) is an area of security planning that aims to protect an organization from the effects of significant negative events. On the flip side, an increase in liabilities or shareholders' equity is a credit to the account, notated as "CR," and a decrease is a debit, notated as "DR." Using the double-entry method, bookkeepers enter each debit and credit in two places on a company's balance sheet. Disaster Recovery Site: A disaster recovery site (DR site) is an alternative backup facility, usually IT in nature, that is used when a primary location becomes unusable due to failure or disaster. The term debit comes from the word debitum, meaning "what is due," and credit comes from creditum, defined as "something entrusted to another or a loan.". Most popular dictionary of acronyms and abbreviations. Under accrual accounting, a deferred credit is money that is received by a business, but which is not recognized as income until a later date. A disaster recovery plan (DRP) is a guide for maintaining IT continuity in the event that a business’s resources are destroyed. "Luca Pacioli's Double-Entry System of Accounting: A Critique," Pages 132–133. Grabbing hold of that can’t-miss-out factor and waving it in your customer’s face can get attention. 'Drive' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and … Meaning of DR. What does DR stand for? Using per as a Preposition You are already subscribed. Pacioli is now known as the "Father of Accounting" because the approach he devised became the basis for modern-day accounting. Learn more. Per definition is - by the means or agency of : through. A T-account is an informal term for a set of financial records that uses double-entry bookkeeping. Looking for the definition of DR? This word has become so overused that some business professionals can no longer define networking. The most common initials that follow a doctor's name are M.D., which stand for medical doctor, according to Prevea Health. A debit is an accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet. The offers that appear in this table are from partnerships from which Investopedia receives compensation. "Etymological Observations on Some Accounting Terms," Pages 8–9. Watch this video below to hear more details about the true meaning of business networking. By Staff Writer Last Updated Mar 28, 2020 2:49:19 PM ET The acronym FACC behind a doctor's MD stands for Fellow of the American College of Cardiology, according to Aspirus Cardiovascular Associates. New search features Acronym Blog Free tools "AcronymFinder.com. Borrowing, investing, lending, budgeting and projecting future revenue are all part of business finance. Quality is critical to sales, cost control, productivity, risk management and compliance. It also provides feedback to enterprises so they can amend their DR plan should any unexpected issues arise. He is also a freelanc… consultation definition: 1. a meeting to discuss something or to get advice: 2. the process of discussing something with…. Finally, some believe the DR notation is short for "debtor" and CR is short for "creditor.". Business involves decision-making. 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