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What is the actual meaning of a “Dr.” in accounting?

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Globally double entry system of book-keeping is followed, i.e. for every debit (Dr.) there will be credit (Cr.) and vice versa. You have asked what is the 'actual' meaning, so i presume you know that Dr means debit and you are curious to know what does debit mean. read more

In accounting, dr. is the abbreviation for the word “debit” & cr. is abbreviation for the word “credit”. Today accountants use the term debit but few years ago in Italy, the term included the letter “r”. read more

Debit and Credit are formal bookkeeping and accounting terms that have opposite meanings and come from Latin. Debit comes from debere, which means "to owe". The Latin debitum means "debt". Credit comes from the Latin word credere, which means "to believe". _____ Debit is abbreviated Dr., while credit is abbreviated Cr. read more

Definition: Actual cost is an accounting term that means the amount of money that was paid to acquire a product or asset. It’s exactly what it sounds like—the actual cost. This cost could be either a historical, past, or present day cost of product. read more

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