Having contributed to a project that needed to apply these principles in a previous role, it can’t be understated how important it is to understand these concepts.

One thing I found interesting though is that one feature of double entry accounting is creating a paper trail where some lost data can be reconstructed if necessary with redundancies. For example if you lose the physical pages detailing a transaction, you can figure out what happened based on data contained in another page. A problem we ran into was how to reconcile that methodology with how this would be solved in code (e.g. DB backups).