| Subject: | Re: [socialcredit] The Rabbit: Wally comments | | Date: | Friday, April 22, 2005 00:46:15 (-0600) | | From: | Wallace M. Klinck <wmklinck @....ca>
|
I agree with Victor and Bill. My understanding is that conventional
accounting practice shows capital as a financial liability of the business
owing to owners. The physical capital is an asset of the business having
value to the business.
Wally
----- Original Message -----
From: "John Hermann" <hermann@picknowl.com.au>
To: <socialcredit@elistas.com>
Sent: Thursday, April 21, 2005 6:53 AM
Subject: Re: [socialcredit] The Rabbit
> At 04:54 PM 21/04/2005 +1000, Vic Bridger wrote:
>
>>Absolutely correct. Any balance sheet of any business
>>will show that capital is a liability.
>>Vic Bridger
>
>
> Hi Vic and Bill,
>
> Thanks for pointing out my error (in stating that capital is
> conventionally an asset).
>
> I realize that capital will be seen as a liability if
> investors/shareholders are regarded
> as separate entities from "the business". But I also think it is
> legitimate to regard
> investors/shareholders as an essential part of the corporate structure,
> and from this
> point of view capital may be interpreted an asset.
>
> However I am more interested in your views about the conclusions that may
> be
> drawn from using the accountancy equation to analyze banking operations.
>
>
> John Hermann
>
>
>
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