Research Article Open Access

Dynamic Monetary Accounting

Abstract

For this century, financial accounting "technology" has meant double-entry accounting. Computers, once assumed to be infallible, insufficiently automated double-entry with only single-entry records. Transaction logs, audit trails, and other features since have augmented these bookkeeping verification gaps by enabling error discovery and recovery. VisiCalc, later Lotus 1-2-3 and Excel, brought dynamic spreadsheets into widespread use for modeling "what if" thereby bridging the gap between time-fixed ledgers with new flexibility for handling the imaginable. However, even as multinational finance systems, enterprise resource planning, and accounting processes infiltrated every organization, financial accounting technology has not advanced in tandem with business complexities. Consider whether you are able to bridge the gap for multiple currency accounting. converge the accounting of interest bearing assets, or integration from start to finish initial strategic business planning to forensic analysis. If you are, the process is likely to be complex and cumbersome, while disconnected as supplemental steps to core financial operations.

Martin Nemzow

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