Multi Entry Framework for Financial and Risk Reporting
15 Pages Posted: 29 Nov 2011
Date Written: November 20, 2011
Abstract
Author challenges one of the oldest accounting double bookkeeping rules, used since 1494, and proposes instead application of the quadruple accounting entry. He presents the concept of the multiply accounting entry for the risk financial statements and risk management. The development gap concept is described and introduces a simplified entry and reporting example. Model is illustrated with a number of financial-risk statements and attributes including the journal entries. The potential completion edge for users is weighted against costs and benefits.
Keywords: Audit, CRD, COREP, FINREP, IFRS, BASEL, NUK, CRD, reporting, financial accounting, double-entry, risk management, fair value, conceptual framework, accord
JEL Classification: M41, G32, K23
Suggested Citation: Suggested Citation