Re:Financial Statements: A Beginner's Guide
by kqr on Tuesday July 14, 2020 @10:51AM
(#23832621)
The lengths to which economists go to avoid negative numbers! Is there any good reason to not use the same sign for all accounts and just flip the sign of the amounts in the transaction instead?
[ Parent
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Re:Financial Statements: A Beginner's Guide
by jsmith99 on Tuesday July 14, 2020 @06:20PM
(#23838749)
Accountants != Economists
Many ERP systems do use the convention that debits are positive numbers and credits negative and so only have a single column for amount. This is possibly more confusing for non accountants as they have to understand that a negative income balance means they made money.