Cash-based accounting

[Scott Simpson]

> The concept of doing your books from the banks is weird to me, and Maf sums it

Yes, but as an aside,  the debit/credit concept is from the bank's
perspective, not yours. You normally debit cash to add to your cash
account (cash is a debit account). That's weird. Why would I debit
cash? From the bank's perspective money is leaving them and entering
your account. One person's debit is another person's credit.
Debit/credit started with banks.

I think that is what they said in B school...