tmornini_ey

8 ms·

1. 1.▲
   by tmornini_ey 8y ago

   > it is always deflationary Except for the fact that it is currently, and always has been, inflationary. You need to learn more about economics. Inflation/Deflation is a separate phenomenon than rising/falling value — though th
2. 2.▲
   by tmornini_ey 11y ago

   > converting to a different currency, sending money, and converting it back No need if you earn and spend it. > You also get the volatility of bitcoin Absolutely true in the short term, absolutely false in the long run. Bitcoin's
3. 3.▲
   by tmornini_ey 11y ago

   Millions of people collectively losing hundreds of millions of dollars a year is less than $1/month individually.
4. 4.▲
   by tmornini_ey 11y ago

   Are you suggesting that nobody should class themselves as a developer, and/or that as self-identified developers, who I can agree are just people with a range of skills (and I never suggested otherwise), we should not attempt to write
5. 5.▲
   by tmornini_ey 11y ago

   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
6. 6.▲
   by tmornini_ey 11y ago

   We left all three open for commenting, which we've now disabled.
7. 7.▲
   by tmornini_ey 11y ago

   If you're suggesting accounting should be associated with deceit, you've got the cart pulling the horse!
8. 8.▲
   by tmornini_ey 11y ago

   I assume this is a joke, but if not, let's discuss.
9. 9.▲
   by tmornini_ey 11y ago

   Subledger would love to help you build that!
10. 10.▲
    by tmornini_ey 11y ago

    Thank you, could not have answered this better myself! Also, it's by-developer, for-developer, so there's a developer's perspective as well. :-)
11. 11.▲
    by tmornini_ey 11y ago

    Thanks for your input! We never intend to be competitive with the product layers you've described. We've deliberately built Subledger to enable other developers to build focused custom accounting applications above us. :-) We be
12. 12.▲
    by tmornini_ey 11y ago

    Thanks for your feedback. We felt it was for developers are we're developers and this is the way we've come to describe and understand it having built Subledger. Your point is excellent and we'll steer toward developers in th
13. 13.▲
    by tmornini_ey 11y ago

    Exactly correct, very nicely said!
14. 14.▲
    by tmornini_ey 11y ago

    So sorry we couldn't get you across the finish line -- you seem to be right in our target audience. :-( > To me, accounting is a data model gone wrong. Redundancy, race conditions, unclear semantics, too generic... I felt this once
15. 15.▲
    by tmornini_ey 11y ago

    Yes, in the article we describe this as from/to. :-)
16. 16.▲
    by tmornini_ey 11y ago

    Is "that article" our primer of the Martin Kleppmann piece?
17. 17.▲
    by tmornini_ey 11y ago

    Event based accounting is what Subledger is all about. No need to summarize monthly what can be detailed continuously!
18. 18.▲
    by tmornini_ey 11y ago

    Thanks!
19. 19.▲
    by tmornini_ey 11y ago

    NICE! Thanks for those quotes!
20. 20.▲
    by tmornini_ey 11y ago

    +\- doesn't represent it better, it represents it identically...in modern terms.
21. 21.▲
    by tmornini_ey 11y ago

    balanced 2D vectors across the balance sheet, with one or many inputs and one or many outputs is an ideal visualization of a journal entry.
22. 22.▲
    by tmornini_ey 11y ago

    I agree 100%. Cannot imagine a more valuable high school class than basic accounting. I guess you'd agree with us that building any software that handles money should, by definition, use accounting to do so?
23. 23.▲
    by tmornini_ey 11y ago

    We believe our test suite to be a complete test of the core accounting that we implement. Would be beautiful to have a provably correct implementation, perhaps v4!
24. 24.▲
    by tmornini_ey 11y ago

    Good point. Do you know or believe it to be higher than most other classes?
25. 25.▲
    by tmornini_ey 11y ago

    Well said!
26. 26.▲
    by tmornini_ey 11y ago

    Sorry to hear that you didn't like it. :-( Thanks for the links, I'll take a look!
27. 27.▲
    by tmornini_ey 11y ago

    Well said. Many people ask us if we're GAAP compliant, and all the rest. We just say "we are if you make the right entries!" :-)
28. 28.▲
    by tmornini_ey 11y ago

    The real deep truth is that the entire income statement is really just a subtree of retained earnings, with expenses being contra-income. :-)
29. 29.▲
    by tmornini_ey 11y ago

    In the paper we point out that it is a legacy, but I'll stop short of describing it as bad. The legacy descends from the fact that accounting was created before negative numbers were in widespread use in Europe. However, the columnar s
30. 30.▲
    by tmornini_ey 11y ago

    Financial awarenesses sometimes hits you like a freight train!