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When you receive money, you happen to be supposed to boost the money account by debiting it. Once you make payments, you reduce the funds account by crediting it.

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Expert bodies for subfields with the accounting professions also exist, for instance the Chartered Institute of Management Accountants (CIMA).[37] A lot of of such Experienced bodies present instruction and teaching which include qualification and administration for many accounting designations, including certified community accountant and chartered accountant.[38][39]

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