Class accounting?

[Elizabeth Dodd]

On Tuesday 03 July 2007 20:41, Jeff Wiegley wrote:
> I also want to put forth this observation:
> Projects should not be accounts. Accounts have assets of measurable
> financial value. Projects do not; they are virtual. Project
> accounting is primarily intended to serve the internal analytical
> needs of a company. Accounts serve external account reporting
> needs as well as internal. (please don't nit pick my summary, I'm
> fully aware that many organizations need to report project
> activities and success to external agencies as well as for internal
> use. I'm just trying to lay the groundwork for my conclusions.)

Uh, no,
When I was Treasurer for a large organisation which got Australian Government 
grants, called "projects" these grants had to separately kept with own bank 
account, set of accounts and auditing.

There was no 'virtual state' to the project funds - they are the government 
property, not the organisation's, and are very real



-- 
... the heat come 'round and busted me for smiling on a cloudy day.