Powerful Railroad and Processing Engines

This week’s episode likens our powerful financial systems to the powerful locomotives of the early 20th Century. Powerful Railroad Engines In my semi-biographical textbook “Balancing Act: A Practical Approach to Business Event Based Insights” I described the powerful railroad engine pictured in the video: “When I was living in Sacramento a couple of times during lunch I went over to the California State Railroad Museum … Continue reading Powerful Railroad and Processing Engines

Outlandish Prediction: Demise of the G/L

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 … Continue reading Outlandish Prediction: Demise of the G/L

Do Sub-Ledger Balances Add Up to GL Balances?

Often discussions with others result in going back to the basic principle I talked about the relationship of the Data Warehouse to the General Ledger. That discussion focused on activity, the thing that creates journal entries. Today’s video builds on that but focuses on the balances. In the operational source systems, we typically make balances of some kind. Can one can accumulate all the balances … Continue reading Do Sub-Ledger Balances Add Up to GL Balances?

Metric Engine Step-Up: A Swimming Pool Example

A couple of years ago a friend was continuing to try to help Risk and Finance effectively coordinate their use of data, and asked me how would I get started on helping them. I noted that the fundamental problem in some instances is the imprecision of our language. We use a single term which actually refers to different things to different people. Solving this problem … Continue reading Metric Engine Step-Up: A Swimming Pool Example

z/OS on Vagrant: A Personal Mainframe

Building on other POC projects, including the short Raspberry Pi experimentation, and the longer Universal Ledger Infrastructure project, I have recently experimented with a personal mainframe system. These systems are not new developments, having been around for more than a decade. I did add one twist I think, making it run on Vagrant as a VM. Hercules z/OS VM Container “Hercules is an open source … Continue reading z/OS on Vagrant: A Personal Mainframe

Financial Auditing: Quality Control for Metric Engines

This week’s episode discusses Financial Auditing, and why it is important to financial reporting; it is the quality assurance process. Any metric engine or report process should have some method to test quality of the outputs. Bayonet the Wounded I worked as a financial auditor for two and a half years in my early career. During that time, as I would go to different businesses … Continue reading Financial Auditing: Quality Control for Metric Engines

Excel: The Scooter of Financial Reporting

In a number of my videos I’ve been on different modes of transportation, including a plane, a train, a taxi, a bus, a bike, and even an ill-fate attempt to video while walking. Today’s video is while riding a scooter. A scooter is the most nimble yet quick form of transportation out of all of them I’ve recorded on. In financial reporting, a spreadsheet is … Continue reading Excel: The Scooter of Financial Reporting

Accounting and Bookkeeping Series Review

In the last video of the bookkeeping series, I briefly review the steps of bookkeeping. If you’re interested in a more in depth look, have a look at the accompanying textbook Balancing Act: A Practical Approach to Business Event Based Insights, available for download. Specifically, look at Chapter 5, Accounting. This is Episode 219 of Conversations with Kip, the best financial system vlog there is.Literally learn more–about … Continue reading Accounting and Bookkeeping Series Review

Accounting Cycle Step 5: Create Reports

The last step of the Accounting Cycle is step 5, creating financial reports, including the Balance Sheet and Income Statement. If you’re interested in a more in depth look, have a look at the accompanying textbook Balancing Act: A Practical Approach to Business Event Based Insights, available for download. Specifically, look at Chapter 5, Accounting. Reporting The process of creating financial reports once the trial balance is … Continue reading Accounting Cycle Step 5: Create Reports