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tom.selling@accountingonion.com

Double-Entry Accounting in Modern Times

My Shareholder Oriented Financial Accounting (S-OFA) Standards will require that debits equal credits. Duh.  But if I am truly going to start with a clean sheet of paper, then I am compelled to explain how double-entry accounting serves a purpose.  I see three…

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Move Over Kickstarter, Here Comes Crowdfunding

Yesterday was a big day for the capital markets.  For the first time, startups can raise (relatively small amounts of) capital from the public without registering with the SEC and by offering its securities over the internet.  It’s called “crowdfunding.” Some…

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Long on “The Big Short”

With the Oscars nigh upon us, I should tell you that I fell short of my goal to see The Big Short.   How did subprime mortgages morph into weapons of mass financial destruction? How did a self-anointed few amass untold obscene…

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Why We Love Spreadsheets Too Much

I have been a habitual spreadsheet user for 30 years, and a Keynesian for, like, forever.  That particular pairing of predilections is probably why I experienced a brief and thrilling shiver of Schadenfreude as I read one of the many…

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