Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Plenty of mixing of metaphors for sure, but I am sure you won't make a judgement based upon that.

Todd is probably as guilty as me of assuming everyone has familarity with the language he is at home with.

That having been said, if we remove:

(a) artificial accounting barriers between enterprises by connecting transactions together;

Survey of Waste


(b) the constraint of time - ie we account for value flows rather than attempting to take "snapshots" at a point in time;

then the resulting savings in adminstration, and the improvement in our understanding of an enterprise as an economic entity will be phenomenal.

Note here that the "Capital Partnership" I advocate - where production or revenues are shared between financier and user of finance for an indefinite time ie to all intents and purposes an "evergreen" lease - acts to remove the time constraint implicit in debt, leases, and all other contracts/obligations of defined duration.

You may well find his site heavy going - I know I do - but his fundamental insights into web-based accounting and its relationship to the Reality of everyday commerce are quite stupendous IMHO.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sun Sep 23rd, 2007 at 10:10:53 AM EST
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