On Saturday 16 October 2010, Tom Bullock wrote: > Geert and Juergen, > > Earlier exchanges stated: > > > "Assets" is the sum of all accounts of types Bank, Cash, Asset, Stock, > > > Mutual Fund, Credit Card, Liability, A/Payable and A/Receivable, > > > obviously taking the proper sign into account. Calling this "Assets" > > > would indeed be confusing at least. > > Just netting (offsetting credits [liabilities] against debits [assets] > from the balance sheet) these together gives "Net Assets", not net > worth. Net worth is a duration concept, meaning activity over time. It > refers to the use of assets to generate income while incurring expenses > to do that. Net Assets is a point-in-time concept and excludes any > income statement activity. > > Given what has been said to this point, the most accurate term I have > seen is "net assets" for the place where a better name is needed. > This very same issue has recently been reported in a bug: https://bugzilla.gnome.org/show_bug.cgi?id=631789
I have added references there to this thread. I don't speak English accounting language fluently, so I have to accept whatever others agree upon here. I would suggest to continue any further discussion on this description on the bug report. Geert _______________________________________________ gnucash-devel mailing list gnucash-devel@gnucash.org https://lists.gnucash.org/mailman/listinfo/gnucash-devel
