This document introduces some basic accounting concepts and proposes applying them to develop a new system called Multi Dimension Impact Accounting (MDIA). MDIA would measure the overall state of organizations and places, track changes in their state over time as progress, and evaluate their performance based on resource use and impacts. Key concepts discussed include balance sheets, profit/loss accounts, comparing actual vs standard costs, and marking assets to current market value to determine profit. The goal of MDIA is to facilitate reforming prevailing metrics to more comprehensively measure impacts on people, planet and profits.