Triple Entry Bookkeeping & Sumptuous Accounting Principles

Introducing “Triple Entry Bookkeeping” – an accounting methodology that incorporates the non-financial #impact of commercial transactions. It is a way to factor in #externalities, positive or negative, within market prices and asset valuations.

It sets out rules for #ProgrammableMoney that can account for impact (+ & -) and adjusts purchasing power accordingly, for both buyers and sellers i.e. creates market based incentives for doing good.

It offers an arithmetic framework that could support proposals by @YanisVaroufakis for the #Kosmos (a synthetic digital currency modelled on the #Bancor by John Maynard Keynes, originally proposed as a unit of account to track international flows of assets and liabilities).

Read the full paper at www.sumptuousaccounting.org

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One Response to Triple Entry Bookkeeping & Sumptuous Accounting Principles

  1. cooperatoby says:

    Brilliant!
    But take a sumpt discount for your Latin grammar https://en.wiktionary.org/wiki/sumptus#Latin

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