Author Archives
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Work-Standard Accounting Practices: Direct Write-Off and Allowance Methods
In addition to the Cash-Basis and Accrual Methods, there is the “Direct Write-Off Method” and the “Allowance Method” for recording and the tracking accumulations of Bad Schuld in Accounts Uncollectible. Remember, Bad Schuld is Schuld that has no chance of… Read More ›
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Update (21 April 2024)
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… Read More ›
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Work-Standard Accounting Practices: Inventories and Accounts Receivable/Payable
In The Work-Standard (3rd Ed.) and again in The Third Place (1st Ed.), it was stipulated that the Market/Mixed Economy, like the rest of the Liberal Capitalist Nation, operate under two Modes of Production. Those Modes of Production were called… Read More ›
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Update (20 April 2024)
Remember those two charts I spoke in the latest Entry of Work-Standard Accounting Practices, Trial Balances in Double-Entry Account Bookkeeping? Note the amounts listed on the Adjusted Trial Balances on the far-right columns of both charts. They depict how Dora… Read More ›
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Work-Standard Accounting Practices: Trial Balances in Double-Entry Account Bookkeeping
What happens if someone, like an Accountant needed to make periodic adjustments to the Quantity of Kapital and Quantity of Schuld? Sometimes, there will be occasions where the Quantity of Kapital, the Quantity of Schuld or both must be revalued… Read More ›
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Work-Standard Accounting Practices: Maoist Funds Balance Sheet
As established earlier in a preceding Entry, the Soviet Union’s accounting system was designed to accommodate the Economic Planners. The methodology enabled Enterprises to maintain and create records in support of Soviet-Type Economic Planning (STEP). It came into being between… Read More ›
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Update (17 April 2024)
I am intrigued by the modifications that Chinese Accountants made to the Soviet accounting system under Chairman Zedong as part of the “Cultural Revolution.” The modifications they had made included recording the revenues sources of different Economic Organizations and where… Read More ›
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