After making some serious progress in the coursework of the Bookkeeping certification program, I was able to record and process my past observations based on what I had learned. It has already been established in Work-Standard Accounting Practices (1^st Ed.) that Double-Entry Account Bookkeeping’s main concerns lie with Kapital and Schuld. Even so, I was able to learn more than enough material to flesh out Section One. Who knows, by the time I get certified in “Professional Bookkeeping,” I may have to expand it to include additional Entries to the point that I need to make comparable adjustments for Sections Two and Three?

Two sets of notes were written last week, all of which I will be sharing here in this post. The first set below are those which concern Double-Entry Account Bookkeeping for Section One:

• The “General Ledger” or “Financial Ledger” mentioned throughout the Treatise must be a final draft based on a “General Journal.” Its purpose is to record the day-to-day movements of either an Economic Organization’s Kapital and Schuld or else its Arbeit and Geld. In Double-Entry Account Bookkeeping, it is meant to be used in tandem with a “T-Chart” as part of compiling the “Chart of Accounts (CoA).”
• “Receipts” provide a record of a transactional sale that was paid for in full. “Invoices” represent payments that have yet to be made, instead arranged on later dates.
• An “Accounts Uncollectible” has become especially prevalent due to the ease at which Kapital and Schuld can be made readily available by the amount of borrowing and lending in the Fractional-Reserve Banking System.
• Periodic adjustments are denoted in separate accounts by means of the “Direct-Write Off Method,” which becomes relevant in the case of recording the Quantity of Schuld accrued from various sources. There are four types of adjustments: “Deferrals,” “Accruals,” “Missing Transactions,” and “Tax Adjustments.”
• The technical term to organize and designate the adjustments are called “Trial Balances.” the “Adjustments” are collated alongside the “Unadjusted Trial Balances” to yield the “Adjusted Trial Balances.”  
• The purpose of a “Statement of Equities” is to document the Drawings of Kapital and the Schuld incurred on an Economic Organization by whoever happens to it. The smaller the Economic Organization and fewer the number of personnel, the more important it becomes to rely on it.
• “Promissory Notes” are essentially a contract to borrow Kapital as part of a Loan with Interest. Larger Economic Organizations and National Governments tend to rely on those.  
• In a world where most of the world’s currencies are Fiat Currencies with Floating Exchange Rates, it becomes necessary for Financial Ledgers to include a “Contra-Asset Account,” a “Contra-Liability Account,” and a “Contra-Equity Account.”

The other set pertains to the Work-Standard’s Command-Obedience Account Bookkeeping for Section Three:

• Between the Death of Bretton Woods (1973) and 9/11 (2001), the Liberal Capitalists began articulating an internationally accepted accounting methodology with Double-Entry Account Bookkeeping. The Accounting Profession saw an unavoidable high point in the 1990s, which coincided with the legal end of World War II (as the Cold War) and the “Unipolar Moment” of the Empire of Liberty. They even called it the “Roaring Nineties!”
• People should still be provided with Receipts and Invoices as part of transactional sales. Even the Self needs to keep a copy of those documents before disposing of them.
• I should provide additional examples of the Work-Standard’s “Workflow Statement,” “Income Statement,” and “Balance Sheet.” It needs to provide a date and description, plus the amounts categorized under Arbeit-into-Geld and Geld-into-Arbeit. The former pertains to economic activities that created more Geld vis-à-vis the Life-Energization Reciprocity (LER) Process. The latter, meanwhile, concerns the flow of already existing Geld into the accounts of different Economic Organizations.   
• I should also develop Command-Obedience Account Bookkeeping alternatives for the T-Chart and the Statement of Equities. Would their names be the “X-Chart (Cross Chart)” and the “Statement of Self-Reciprocation?”
• Yes, under the Work-Standard, the Values of Arbeit and the Price of Geld can be adjusted and corrected as needed. It does depend on whether we are talking about an Accountant needing to correct an error or one that is following the Direct Orders of an Economic Planner, Auditor, or State Commissariat.
• Feminism, Environmentalism, Marxism-Leninism, and Pan-Germanic Socialism all share recurring criticisms regarding the unfettered influence that Neoliberalism has over the Accounting Profession. How can I consolidate those critiques into something coherent for Accountant, let alone a Bookkeeper?
• Section Three of Work-Standard Accounting Practices focused heavily on the LER and LERE Processes for the purposes of demonstrating Arbeit-into-Geld. If there is going to be a Second Edition, some Entries describing the Geld-into-Arbeit aspects would be helpful. Compared to Arbeit-into-Geld, Geld-into-Arbeit is very straightforward! Why not use that consideration as a justification for introducing the X-Chart?

Categories: Work-Standard Accounting Practices

Tags: Accounting, Cold War, Economic History, Economics, Finance, Fractional-Reserve Banking, Pan-Germanic Socialism, Philosophy, Politics, Psychology, Socialist Finance, Taxes, Third Place, Work-Standard, Work-Standard Accounting Practices