Summary bar description (was: Patch for guide file "ch_basics.xml")

Geert Janssens janssens-geert at
Wed Oct 20 07:15:41 EDT 2010

On Saturday 16 October 2010, Tom Bullock wrote:
>   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.
This very same issue has recently been reported in a bug:

I have added references there to this thread.

I don't speak English accounting language fluently, so I have to accept 
whatever others agree upon here. I would suggest to continue any further 
discussion on this description on the bug report.


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