justmichelle

We're in an Opacity Crisis

Thebookkeeper:
All modern book keeping systems that I've seen use double entry book keeping. If they didn't, they wouldn't be able to generate balanced financial reports.

The average data entry clerk would not notice it (because they don't need to), but the folks who generate the financial reports know it. What software are you using? If it doesn't have it I'd like to know what to avoid.

With regards to the article,
More transparency would help. It would be even better if all that information would also have some context to go with it. Like what risk is, how to mitigate risk, how not to throw the world's economy into a death spiral by ignoring key risk factors like systemic risk, etc.

Michelle

On 2008 Oct 12 11:43 AM TheBookkeeper wrote:

> Hi Cate,
> All that you hope to see in the way of transparency and control will
> return when business entities of every description return to a
> proper double-entry bookkeeping framework of rules.