Written by Delvin In times of conflict and crisis, nations often turn to innovative solutions to fund their endeavors. In the case of the United States during the Civil War, the implementation of the first income tax in 1861 marked… Read More ›
Work-Standard
Update (24 April 2024)
My timetable on when I should be able to resume writing Entries for the Second Edition of Work-Standard Accounting Practices is this coming Thursday, continuing all the way to next Sunday. Today and tomorrow are not ideal times for me… Read More ›
Update (22 April 2024)
Alright, now that the new Section One Entries of Work-Standard Accounting Practices are finished, the time has come to begin writing the Entries of Section Three. Everything from Section One has been helpful for understanding how to oversee how Kapital… Read More ›
Work-Standard Accounting Practices: Evaluating Profitability and Utility (Pt. II of II)
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 ›
Work-Standard Accounting Practices: Evaluating Profitability and Utility (Pt. I of II)
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 ›
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 ›
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 ›
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 ›
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 ›
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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