#Accounting as one of life's #Meta-skills
Poh-Sun Goh, 9 May 2022, Monday, 0527am, Singapore Time
Choices
How we spend our Time
Where we allocate our Attention
Our Energy and Effort
Essentially what we Care About
Builds up our Life 'Balance Sheet': Assets = Liabilities + Equity
Manifests in our Life 'Income Statement': Sales (revenue) – cost of goods sold – selling, general, administrative expenses (SGA) – depreciation/ amortization = earnings before interest and taxes (EBIT) – interest and tax expenses = profit/loss (profit & loss or p&l statement or statement of operations)
Our Life 'Cash Flow Statement': Cash Inflow - Cash Outflow + Opening Balance = Closing Balance
Examine How, Where, and Why you spend your Time, Attention, Energy and Effort.
On your Needs, and Wants
Sleep, Nutrition (Water and Food), Shelter, Safety, Social Activities, Work, Professional and Personal Development and Growth, Building up your 'Assets', 'Capacity' and 'Reserves', paying close attention to 'Costs', 'Liabilities' and 'Debts', minimising and eliminating these.
https://www.linkedin.com/pulse/accounting-skills-principles-you-can-use-everyday-life-chomwa-shikati
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