Financial accounting has various topics and one of them is Bank Reconciliation and its preparation. The new theory of price accounting permitted a trained book-keeper or an accountant to use the book kept to extract economic reports to show the efficiency represented by such information. In 2007, he was named Virginia Professor of the Year by the Carnegie Foundation for the Advancement of Teaching and the Council for the Advancement and Support of Education.
The finish of the American Revolution saw the first United States (US) governmental accounting method becoming produced in 1789 and it was established to account for and manage the treasury of the US. The double entry practice and theory have been adopted.