Definitions for TrueValueMetrics
Transparency and Accountability
Transparency and accountability are important ... but impossible to have without an appropriate structure for data acquisition and analysis. TVM provides such a structure. TVM has ambitious aims ... to make it possible for the public to hold decision makers accountable.
TVM has a structure that allows it to work even when major socio-economic actors are not participating in any way. While the non-participation of these actors makes data acquisition more difficult ... it is not impossible ... and it is even more important.
Simply put ... it may be possible for an economic actor to hide how it operates internally, but it is impossible for any substantial economic actor to hide from the impact of its activities. Inappropriate activities with anti-social outcomes are only sustainable when there is no visibility for these activities and outcomes!
The concept of double entry described later creates a very powerful tool for financial control. Either there is the money that can be counted or there is the product or service that has been bought. The money value representation of the one equals the other. When money buys less than it should ... this can be identified. In a good system of accounting, the double entry characteristic can be used to ensure that nothing is stolen without more than one person knowing about it!