Accounting and Money for Ministerial Leadership. Nimi Wariboko

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development.

      It is at this point of the intersection between the idea of sustainable development and the sociology and production of knowledge that I want us to take a different but complementary approach to the connection between monetary policy and ecology. Perhaps, we all agree that modern economic thought has not been friends with the idea of sustainable development, but we need to go further and recognize that modern Western thought system, in its root and branch, appears antithetical to sustainable development. I will now raise some issues to stimulate our thinking and provoke debate about the laudable quest for sustainable economic development amidst the current thinking and practice of monetary policy.

      The overarching conclusion is that the struggle for protecting nature goes beyond the nexus of monetary policy, economic development, and environment. One must deploy strategies that address apparent antithetical relationships between nature and the Western thought system, which unfortunately has come to dominate other thought patterns. And to the extent of this domination, many parts of the South are as guilty as the North in subjugating nature to human’s untrammeled domination. Indeed in order to save the environment and embark upon sustainable development we must all wage a multi-front struggle.

      Part of this struggle will involve rethinking the concept of money and accounting. In this book we formulate an alternative concept of money as a social relation and specifically in chapter 9 we will offer a constructive proposal to foster a theological understanding and critique of accounting, the language of business.

      Exercises

      1. The net asset of Andover-Newton Church (ANC) as of May 31, 2013 is $538,629. Assuming that the net income of ANC on May 31, 2014 is $100,000 and every other number in the balance sheet remains the same, what will be the net assets (equity number) on May 31, 2014?

      2. Perform the same exercise as above, but this time assume that instead of net gain there is a loss of $38,000.

      3. Why is the balance sheet always balanced?

      4. Define double entry bookkeeping.

      5. Brain Teaser: What is liquidity ratio?