Double entry multidimensional accounting

David P Ellerman

Omega, 1986, vol. 14, issue 1, 13-22

Abstract: This paper presents a model of double entry multidimensional accounting in 'physical terms' using vectors of property rights. Property accounting gives a valuation-free description of the property transactions underlying the value transactions of ordinary accounting. Thus it avoids the valuation controversies of value accounting. Given any vector of valuation coefficients (e.g. prices or costs), a system of value accounting can be derived from a valuation-free system of property accounting by multiplying the property vectors by the value vector. The extension of double entry accounting to vectors is based on the modern mathematical formulaton of double entry bookkeeping using the group of differences.

Date: 1986
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