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From: Thomas Gagne on 27 Dec 2006 08:11
topmind wrote:
> Is it required to be implemented the same way as done on paper? Or is
> one merely required to present it in double-entry form (which is just a
> presentation issue)? It seems foolish to have laws that force
> denormalized data.
How does the law require denormalized data?

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From: topmind on 27 Dec 2006 14:09

Thomas Gagne wrote:
> topmind wrote:
> > Is it required to be implemented the same way as done on paper? Or is
> > one merely required to present it in double-entry form (which is just a
> > presentation issue)? It seems foolish to have laws that force
> > denormalized data.

> How does the law require denormalized data?

That is what I was asking. I was not sure if the criticism of my
suggestion was from a legal standpoint or an implementation standpoint.
Thus, I commented on both possibilities rather than play 20 questions.

>
> --
> Visit <http://blogs.instreamfinancial.com/anything.php>
> to read my rants on technology and the finance industry.

-T-

From: Thomas Gagne on 27 Dec 2006 14:46
topmind wrote:
> Thomas Gagne wrote:
>
>> <snip>
>> That is what I was asking. I was not sure if the criticism of my
>> suggestion was from a legal standpoint or an implementation standpoint.
>> Thus, I commented on both possibilities rather than play 20 questions.
>>
GAAP highly recommends double-entry book keeping. Even in practice, it
is a good tool for financial OLTP systems to make sure nothing is
accidentally recorded to the system that doesn't balance. After all, we
don't want someone increasing their account balance if there wasn't a
source of funds involved, would we?


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Visit <http://blogs.instreamfinancial.com/anything.php>
to read my rants on technology and the finance industry.
From: topmind on 27 Dec 2006 15:46
Thomas Gagne wrote:
> topmind wrote:
> > Thomas Gagne wrote:
> >
> >> <snip>
> >> That is what I was asking. I was not sure if the criticism of my
> >> suggestion was from a legal standpoint or an implementation standpoint.
> >> Thus, I commented on both possibilities rather than play 20 questions.
> >>

> GAAP highly recommends double-entry book keeping. Even in practice, it
> is a good tool for financial OLTP systems to make sure nothing is
> accidentally recorded to the system that doesn't balance.

Normalization is not something I invented. Double entry goes against
normalization. Double-entry is designed for paper processes in mind,
NOT RDBMS. There are *more effective* ways to reduce errors and
mistakes. Normalization is part of it. Perhaps GAAP is insufficiently
educated on database practices and techniques. Technology is not their
main job.


> After all, we
> don't want someone increasing their account balance if there wasn't a
> source of funds involved, would we?

See above.

>
>
> --
> Visit <http://blogs.instreamfinancial.com/anything.php>
> to read my rants on technology and the finance industry.

-T-

From: Doc O'Leary on 28 Dec 2006 06:52
In article <5KydnRcGr5oRUA_YnZ2dnUVZ_tadnZ2d(a)wideopenwest.com>,
Thomas Gagne <tgagne(a)wide-open-west.com> wrote:

> GAAP highly recommends double-entry book keeping. Even in practice, it
> is a good tool for financial OLTP systems to make sure nothing is
> accidentally recorded to the system that doesn't balance. After all, we
> don't want someone increasing their account balance if there wasn't a
> source of funds involved, would we?

The question is more whether or not it really makes sense to say this is
correct:

John -5
Bill +5

and this is not:

John Bill 5

The circumstances that make double-entry best practices doesn't
necessarily apply when we have non-physical records that computers can
cross-reference with ease.

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