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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (6509)	3/31/1999 9:09:00 PM
From: Walter in HK	Read Replies (1) \| Respond to of 78519

Yeah, Double Entry Bookkeeping gets you onto these things. I am an EE that learned Double Entry Bookkeeping in 6 hours plus homework. For the life of me I don't understand why more people can't do a month's worth of posting for a Cigar Store. Also, they don't know how important the design of the Chart of Accounts can be to see what goes on in your business. It can be a real help (provided you have understood and defined your business) but most CEOs just eat what the Accountants serve, just because then the Auditors ask fewer questions. I had to convince PriceWaterhouse at the beginning. My Chart of Accounts was "unconventional" but, they had to admit, did not contradict GAAP nor IRS rules. It made the business transparent which was enormouly helpful. That's what we need: Transparent reporting.