[DRAFT] General Ledgers Act
Posted: Sat Jun 27, 2020 7:38 am
by Servilis
General Ledgers Act
A resolution to enact uniform standards that protect workers, consumers, and the general public.
Category: Regulation Area of Effect: Legal Reform (for now) by: Servilis
A resolution to enact uniform standards that protect workers, consumers, and the general public.
Category: Regulation Area of Effect: Legal Reform (for now) by: Servilis
The World Assembly,
Recognizing the importance of a General Ledger in recording transactions of a business and other financial areas of it as well.
Shocked by the lack of attention towards the unreliable templates General Ledgers use.
Determined to make the learning of General Ledger use, as well as the use of it in practical areas much easier,
Hereby enacts the following:
1. For the purposes of this resolution,
a. Defining "General Ledger" as a documentation and recording of transactions a business has involvement in.
b. Defining "template" as a preset for a document
2. Defining the regulations as follows :
a. General Ledger templates must be user-friendly, being easy to navigate and easily readable, (in other words, placing columns and features in a way that seems as though the creator made the columns as they went along would be considered user-unfriendly and hard to navigate)
b. General Ledgers should all have the same features, rather than be separated into different types of Ledgers, for example, the existence of Cash Payment Journals, Cash Receipts Journals and other forms of extra documentation of transactions.
c. Document names must be recognizable and easy to remember. (e.g. a Cheque could be "CHE")
d. Details of a transaction should be included. (The details imply what sort of transaction took place, e.g. purchase, sales, loan, renting, etc.)
e. The Date of the Transaction should be included.
f. The cost of the Transaction should also be included, in either the same column, or in two different columns representing funds earned and funds lost.
g. The means of transaction should be included, (I.e. Was it payed for with a Cheque, physical funds, debit, credit, etc.)
h. Any other necessary columns (such as Cost of Sales, etc.) should be included in the General Ledger, as opposed to being kept in a separate ledger (as stated in 3.b.)
General Ledgers Act
A resolution to enact regulations on the use of financial concepts.
Category: Regulation Area of Effect: Finances Proposed by: Servilis
A resolution to enact regulations on the use of financial concepts.
Category: Regulation Area of Effect: Finances Proposed by: Servilis
The World Assembly,
Recognizing the importance of a General Ledger in recording transactions of a business and other financial areas of it as well.
Shocked by the lack of attention towards the unreliable templates General Ledgers use.
Determined to make the learning of General Ledger use, as well as the use of it in practical areas much easier,
Hereby enacts the following:
1. For the purposes of this resolution,
a. Defining "Simplification of Economics" as an effort to summarize and/or simplify an Economic System/Structure.
b. Defining "Simplification of Finances" as an effort to summarize Financial Concepts.
c. Defining "Financial Concept" as a concept that is primarily found in the topic of Finance.
2. Member States shall not be penalized for an inability to abide by the regulations, but rather have their General Ledger system rejected, forcing them to try again.
3. Defining the regulations as follows :
a. General Ledgers templates must be user-friendly, being easy to navigate and easily readable.
b. General Ledgers should all have the same features, rather than be separated into different types of Ledgers.
c. Document names must be recognizable and easy to remember. (I.e. a Cheque could be "CHE")
d. Details of a transaction should be included. (The details imply what sort of transaction took place, e.g. purchase, sales, loan, renting, etc.)
e. The Date of the Transaction should be included.
f. The cost of the Transaction should also be included, in either the same column, or in two different columns representing funds earned and funds lost.
g. The means of transaction should be included, (I.e. Was it payed for with a Cheque, physical funds, debit, credit, etc.)
h. Any other necessary columns (such as Cost of Sales, etc.) should be included in the General Ledger, as opposed to being kept in a separate ledger (as stated in 3.b.)