There are about two more Entries that I would like to write for Section One of Work-Standard Accounting Practices (2nd Ed.). Today, a new Entry for Section One is scheduled to go live within the next thirty minutes after this Update post. The two upcoming Entries in question pertain to Double-Entry Account Bookkeeping’s relation to Production for Profit and Production for Utility.

• Double-Entry Account Bookkeeping relies on two methods to record changes to the Inventory while transactional sales are occurring. They are used in conjunction with knowledge of the Average Cost associated with the production process of privatized commercial firms.
• The fundamental equation, “Assets = Liabilities + Equities” is also used to account for any Kapital owed to Parliament, Investors, Lenders, Vendors, Labor Unions, and Customers. Ironically, I am being frequently reminded of Vladimir Lenin’s criticism of Economism in What is to be Done? and Rudolf Jung’s criticisms of Interest and Rents in Der nationale Sozialismus (2nd Ed.). The Liabilities and Equities are the variables to be targeted next.

Once I finish those two Entries, my next goal is to figure how to reorganize the Entries of Section One to better accommodate the new Entries. Everything is still being used to establish a Chart of Accounts (CoA) to eventually fill out the System of National Accounts (SNA) for a Liberal Capitalist Parliamentary Democracy.

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Tags: Accounting, ARPLAN, Economics, Finance, Philosophy, Politics, Psychology, Socialist Finance, Third Place, Work-Standard, Work-Standard Accounting Practices