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To: Walter in HK who wrote (6516)4/1/1999 8:02:00 AM
From: Daniel Chisholm  Read Replies (2) | Respond to of 78521
 
Thanks so much for the 1 min lecture. I find double entry bookkeeping to be oftentimes counterintuitive, perhaps because I never learned it. I have sort of figured out enough about accounting (reading balance sheets, trying to match cash to accrual incomes, etc) to keep up with fundamental analyses (and sometimes even fake it myself), but the idea of a debit to assets resulting in an increase in assets still seems backwards to me ;-) And "income tax asset bad, income tax liability good" took some getting used to as well.

I have the suspicion that learning bookkeeping will be like learning quantum mechanics. The first time you hear about it it seems all weird wonderful and counterintuitive, but you figure that once you learn how it works it will all make sense. After a while it no longer seems weird and you know what happens and how to work with it, but it's not because it makes any more "sense" than it originally did, rather, one accepts it after a while and it becomes part of your intuition.

- Daniel

P.S. I've always wanted someone to write a series of books for cross-training educated intelligent people. It seems that books are either written as introductions for novices starting from scratch, or for experts already fluent in the field. Neither really help me when I want to get up to speed on something I never studied. I'd buy any or all titles such as these:

A Statistics Primer for University Graduates - No prior statistics knowledge needed, assumes strong grasp of math and calculus

Structural Engineering for Math or Physics Grads - You know the tools, here's the application

Financial Analysis for University Graduates - Or, all a scientist needs to become an equity analyst

Accounting for non-Business Graduates - How to understand accountants, and speak to them without embarrassing yourself

English Grammar for Programmers, Scientists and Engineers - "Whom" isn't just snotty, it's also precise and de-ambiguifying!

Any more?



To: Walter in HK who wrote (6516)4/1/1999 8:22:00 PM
From: Terry Maynard  Read Replies (1) | Respond to of 78521
 
Walter, I am curious about your use of an S Corp. I am in the same boat with 4 children; however, have most of the investments in an IRA.
I appreciate your wisdom and time.

Thank you.

Terry