This week’s video makes an outlandish prediction: that in the future companies will not have general ledgers, but instead use the increased compute capacities available from today’s ubiquitous computers to maintain much more granular ledgers, which have the GL perspective embedded in them.
With all my experience with enterprise-wide financial reporting systems, I recognize how radical this idea is. And it’s not just the demise of the General Ledger that makes it such, but the thought that the conservative accountants responsible for it might ever let it happen as well.
But in my blog published paper, A Proposed Approach to Minimum Costs for Financial System Data Maintenance, one can find my reasoning behind such a radical prediction.
Watch all episodes in order at the Conversations with Kip Playlist