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What is “Triple Entry Accounting”?
“Triple Entry Accounting”?
We all know what a traditional double-entry accounting system is - and what it is not. But:
- What is triple entry?
- How does it work?
Many thanks.
65 months ago
2 answers
Read this article - it provides a pretty good idea and answers to your questions.
https://projekter.aau.dk/projekter/files/245235285/Triple_entry_masters_finals.pdf
Triple entry tries to include momentum of recurring entries….not sure it makes sense...but it is an interesting thought.
Triple entry tries to include a forward looking element - but one could argue that is already happening with the way IFRS rules the value of the balance sheet - though it is a bit conservative.
/Jane
65 months ago
“Triple Entry Accounting”
I can do my own internet searches; but thanks.
I know the accounting, but I was really interested in the block chain security portion as the third entry. My miners suggest it is just too slow for practical use at this time.
For example, typical financial and CC transactions can occur at speeds of several hundred thousand per second. While blockchain distributed file networked financial transaction at only 2.700/sec.
Any insights?
65 months ago
