Introduction to the Income Statement

This week’s episode of Conversations with Kip discusses what an Income Statement is, why it is important, how it is made and its relationship to the Balance Sheet. Although almost all financial analytics begins with a balance–a position as of a point in time–the balance sheet does not explain why the balance is the balance or the position. Activity over time is what gives a … Continue reading Introduction to the Income Statement

Universal Ledger POC Results: Potential Infrastructure Software

In the spring of 2019 I undertook a study of potential infrastructure components that could be used to construct a Universal Ledger System. Here’s a report of that effort: Components chosen included: Vagrant Containers Scala as the Language sbt as the build tool Apache Spark as the analytical application Play Frameworks as the web server/authoring tooling The various scripts used in the video are shown … Continue reading Universal Ledger POC Results: Potential Infrastructure Software

Introduction to the Balance Sheet

Today’s episode discusses what a balance sheet is, why it is important, and how it is made. All financial analysis begins with a balance. Your bank accounts provide an excellent example. When you log into them or check a statement, what is the first numbers shown on them? It is the balance. Balances give us a point in time perspective. All financial reporting begins with … Continue reading Introduction to the Balance Sheet

Intro to the Bookkeeping Series

This week I’m releasing publicly a series of videos on basic bookkeeping and accounting, which will cover the balance sheet, income statement, and accounting cycle. The accompanying textbook is available here for download: Balancing Act: A Practical Approach to Business Event Based Insights. Specifically, it will cover Chapter 5, Accounting. This is Episode 210 of Conversations with Kip, the best financial system vlog there is. … Continue reading Intro to the Bookkeeping Series

Experimenting with a Raspberry Pi

Security concerns caused my company to disable the ability to write to a USB drive on the machine I use for work. They provide backup and cloud based storage facilities, but my requirements for local storage for my video work have grown, and my internal hard disk capacity has not. I considered upgrading my machine, and even purchased the new one–at a cost of over … Continue reading Experimenting with a Raspberry Pi

Finance Inventory: Master Files

This week’s episodes builds on an idea from Episode 98 Balances are the Inventory of Finance. Where are these balances maintained? Many are maintained in things called ledgers. But they are also at times simply called Master Files. Finance certainly facilitates accurate recording of transactions. But little reporting is done about transactions themselves. People are interested in balances–something that states a position as of some … Continue reading Finance Inventory: Master Files