KCQ

I think the concepts that I found most interesting in these chapters are

Owner & company separate entities

System is set up for balance around this concept.

Debts = credits and system has trial balance as check.

For me I now see the accounts are not just facts and figures but a more complete story of the business.

KCQ

Cash flow is a concept I think we can all understand. We all have our income & our expenses.

If we don’t have money at hand to pay our expenses we are in serious trouble.

KCQ

I see equity value is the PV of expected future divined.

It looks to me that when trying to predict this figure a company will always take the figures that give it the most positive outcome for their company.

The future is not easy to predict.