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commit a3c8f8a7c5bd5785ec61f24a86374826bd700cf3
parent 775eae5a234eb12ab345a3605239bde369bf2a17
Author: Bob Haugen <>
Date:   Wed, 14 Aug 2019 13:36:19 -0500

Merge pull request #556 from valueflows/accounting2

add bob's paragraph
Mdocs/introduction/ | 2++
1 file changed, 2 insertions(+), 0 deletions(-)

diff --git a/docs/introduction/ b/docs/introduction/ @@ -31,6 +31,8 @@ The standard set of accounting reports are needed by many organizations. A stand Moreover, General Ledgers and accounting reports can be created automatically for each agent in an economic network using the VF vocabulary. +Accounting statements can also be updated instantly for each participant in any economic event as soon as the event is recorded. For example, consider an economic exchange, where one agent transfers some goods to another, and the other agent transfers some money in return. The inventory of the goods-providing agent will be instantly decremented, and the receiving agent's incremented. Likewise the money accounts of the money-providing and receiving agents will immediately change. Income statements, balance sheets, and cash flow reports can reflect the new changes immediately. The financial positions of each agent can always be up-to-date as of the last recorded event. + This article describes how to generate General Ledgers etc from REA data using procedural code: [Operation of a Relational Accounting System, Graham Gal and Bill McCarthy]( Wim Laurier is working on how to do it declaratively. [This paper]( gives an early view of how Wim and Satoshi Horiuchi intend to do it.