Sunday 8 May 2022

#Accounting as one of life's #Meta-skills






#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.










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