The "double entry" stems from the fundamental accounting equation: assets = liabilities + equity. Whatever you have is either yours or borrowed. Change in one must have an equal change in the other to keep the equation…
> By burning the working class’ money, the ruling class and wealthy class end up with a larger piece of the overall pie. It’s ingenious. Evil, but ingenious. The arguments in the article would have carried more weight…
Accountant here. This article is just wrong. You could memorize debit/credit rules but when dealing with non-finance persons, I avoid mentioning debit/credit as it gets confusing and generally its not needed anyway.…
This isn't about nicknames, its about cultural differences.
Graph seems to be FPS
The "double entry" stems from the fundamental accounting equation: assets = liabilities + equity. Whatever you have is either yours or borrowed. Change in one must have an equal change in the other to keep the equation…
> By burning the working class’ money, the ruling class and wealthy class end up with a larger piece of the overall pie. It’s ingenious. Evil, but ingenious. The arguments in the article would have carried more weight…
Accountant here. This article is just wrong. You could memorize debit/credit rules but when dealing with non-finance persons, I avoid mentioning debit/credit as it gets confusing and generally its not needed anyway.…
This isn't about nicknames, its about cultural differences.
Graph seems to be FPS