Re:Double-Entry Bookkeeping as a Directed Graph
by randomdata on Thursday April 11, 2024 @09:46AM
(#40002097)
> While money can’t be created or destroyed (unless you run a central bank…)
That's not the case. Money, of course, is just a promise to provide something of some defined value at some point in the future. Anyone can make such promises. Heck, that's why we invented accounting – to keep track of the promises outstanding and delivered!
That's not the case. Money, of course, is just a promise to provide something of some defined value at some point in the future. Anyone can make such promises. Heck, that's why we invented accounting – to keep track of the promises outstanding and delivered!