Assets with a negative value treated as zero in reports

[Geert Janssens]

On Thursday 16 May 2013 10:34:18 Derek Atkins wrote:
> Buddha Buck <blaisepascal at gmail.com> writes:
> > On Wed, May 15, 2013 at 2:59 PM, Derek Atkins <warlord at mit.edu> wrote:
> >     What does it mean to have a "Negative Asset"?  How can you have
> >     negative
> >     cash in your wallet?  How could you have negative money in your
> >     checking
> >     account?  And no, "overdraft" doesn't count, because that's yet
> >     another
> >     account that would be a Liability that gets tied to your checking
> >     account.
> > 
> > I don't understand the bit about an overdraft being a liability account
> > tied to a checking account.  Certainly my bank displays my account
> > balance as negative when I'm in an overdraft situation.
> 
> Really?  Mine doesn't.  Mine shows a third account, which is the
> overdraft account.  The main account never goes below zero.  I guess it
> depends on the bank.
> 
All banks here in Belgium simply show a negative balance when overdrafted as well. So I 
would agree that the reports should reflect this negative value when it's there.

Geert