TrueValueMetrics ... Impact Accounting for the 21st Century


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Date: 2024-04-25 Page is: DBtxt001.php L0700-CC-ACCTGforHISTORY

CORE CONCEPTS
ACCOUNTING FOR HISTORY

MONEY WEALTH / MONETIZED VALUE
Money / Profit growth / GDP growth / Stock Prices / Cost push inflation / Wages chasing prices

ACCOUNTING FOR HISTORY
There is a lot to learn from history, but is there an easy way to account for history?
In fact there is. It is the balance sheet.
The balance sheet puts on the record the state of affairs at a moment in time. In conventional financial accounting the state of various money accounts are tabulated and a balance sheet created. As time goes by, the balance sheet changes depending on what activities have impact the state of affairs during the period.

ACCOUNTING FOR PRODUCT HISTORY
PRODUCTS ... goods and services ... are what enables quality of life. Products, not money, is really what makes the world go round.
Before a product is available for purchase, it goes through one or many manufacturing processes and a more or less complex supply chain. The history of the product accumulates as a 'balance sheet' for the product.
The balance sheet for the product at any stage of its journey through the supply chain may be recorded in a STANDARD VALUE PROFILE.

Open L070-SV-STANDARD-VALUE-PROFILE.

The text being discussed is available at

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