In “The Cash and Accrual Methods” and “The Modified Accrual Method” Entries from Section One, I discussed about the most prominent accounting techniques employed under Neoliberalism in both Production for Profit and Production for Utility. The Cash-Basis Method only provides information about how many Quantities… Read More ›
Back in Section One, we discussed how Receipts and Invoices operate under Double-Entry Account Bookkeeping. In their simplest forms, Receipts and Invoices are documented recordings of Kapital moving across different accounts and Schuld accumulating in others. Receipts are created by… Read More ›
“‘The history of Bookkeeping is the history of Civilizations.’” The political life of any Nation can also be discerned from the economic life or social life of that Nation. Political Science relies on mathematics to make quantitative analysis and to… Read More ›
A lot of what happens in Accounting and Bookkeeping is based on preconceived sets of “Assumptions” and “Principles.” These Assumptions and Principles merely inform the Accounting Profession on how to observe, record, process, and convey critical financial information to others… Read More ›
We have previously discussed how Liabilities represent Quantities of Schuld an Economic Organization owes and Equities the Quantities of Kapital an Economic Organization earns. We even discussed how the Inventory, as Assets, has different ways of evaluating the Values of… Read More ›
For this two-part Entry of Work-Standard Accounting Practices, we will be evaluating some aspects of Double-Entry Account Bookkeeping that are intimately related to Production for Profit/Utility. Given what was discussed about those two Modes of Production in The Third Place… Read More ›
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 ›
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 ›
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 ›
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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