Patch for guide file "ch_basics.xml"

Tom Bullock tbullock at
Sat Oct 16 14:10:50 EDT 2010

  Geert and Juergen,

Earlier exchanges stated:

> >  "Assets" is the sum of all accounts of types Bank, Cash, Asset, Stock, Mutual
> >  Fund, Credit Card, Liability, A/Payable and A/Receivable, obviously taking the
> >  proper sign into account. Calling this "Assets" would indeed be confusing at
> >  least.
> >  
Just netting (offsetting credits [liabilities] against debits [assets] 
from the balance sheet) these together gives "Net Assets", not net 
worth.  Net worth is a duration concept, meaning activity over time.  It 
refers to the use of assets to generate income while incurring expenses 
to do that.  Net Assets is a point-in-time concept and excludes any 
income statement activity.

Given what has been said to this point, the most accurate term I have 
seen is "net assets" for the place where a better name is needed.


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