I always appreciate new ways to make accounting easier. A lot of accounting should be automated because most of it is ministerial.
But, I do thinking that financials are something that each person should learn a bit more about. I find it too common that people aren't spending enough time to understand what their financials are trying to tell them. For example, they're generate awesome revenues, but failing to convert it into cash fast enough to meet their debts (statement of cash flows).
Always a fan of everyone gaining financial literacy =).
I found that article to be rather obtuse and very complicated (I think it was an intellectual exercise rather than a primer), but that's my personal opinion. Definitely not the "light reading" GP wanted. A useful primer would, in my opinion, start with the accounting equation, explaining its components, and move on from there.
I was referring to the Martin Kleppmanm piece on "Accounting for Conputer Scientists". It seems like it was meant as an exercise in mapping accounting to graph theory, but somehow morphed into a go-to tutorial for accounting.
Looking at the comments on that website, it has even developed a sort of fanboyism. But IIRC, it led to some "interesting" insights when it was first discussed on HN, like "sales are liabilities".
I find the alleged impenetrability of basic accounting to be rather baffling in general.
Thanks, happy you were not referring to our document! :-)
Sales (Incomes) are clearly equity, with Expenses being contra-equity. Not sure how anyone could come to any other conclusion, but I'll read the article and it'll probably become clear. :-)
But, I do thinking that financials are something that each person should learn a bit more about. I find it too common that people aren't spending enough time to understand what their financials are trying to tell them. For example, they're generate awesome revenues, but failing to convert it into cash fast enough to meet their debts (statement of cash flows).
Always a fan of everyone gaining financial literacy =).