Scrooge Manning the Books --Dickeson

Scandals have now alerted us to reassess the adequacy of the Scrooge Graphics Accounting. The current and continuing rash of accounting shenanigans are of concern to stockholders, institutional financiers, stock brokerages and taxing authorities primarily where equity valuations are an issue.

Yes, we're outraged and sickened by the falsities and deceptions practiced. Thousands have lost their jobs and thousands more are becoming frightened as their savings vanish. But we've known since the year 1350 that the zero balance general ledger system is an equity valuation tool—a fiduciary model not intended for operating management guidance. It's a flawed valuation system and useless for operating decision support.