TVA p3 DRAFT D
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This document outlines a presentation on true value accounting. It discusses measuring profit, people, planet, and other factors. It proposes accounting for financial impacts as well as externalities such as impacts on institutions, people, society, the environment and more. The goal is to develop a system that accounts for everything to truly reflect all costs and benefits of economic activity.
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TVA p3 DRAFT D
- 1. WORKING DRAFT - E File: TVA-p3-DRAFT-E-160424.odp Peter Burgess (c) All rights reserved TRUE VALUE ACCOUNTING
- 2. BE THE CHANGE "BE THE CHANGE THAT YOU WISH TO SEE IN THE WORLD" - GANDHI featuring talks on ART + SCIENCE + INTEGRITY + FOCUS TRUE VALUE ACCOUNTING
- 3. Complex system … competing agendas TRUE VALUE ACCOUNTING
- 4. I WILL ANCHOR MY REMARKS AROUND THE LETTER P TRUE VALUE ACCOUNTING
- 6. PROFIT, PEOPLE, PLANET TRUE VALUE ACCOUNTING
- 7. PROFIT, PEOPLE, PLANET PLACE, POLLUTION TRUE VALUE ACCOUNTING
- 8. PROFIT, PEOPLE, PLANET PLACE, POLLUTION PURPOSE, PERSPECTIVE TRUE VALUE ACCOUNTING
- 9. PROFIT, PEOPLE, PLANET PLACE, POLLUTION PURPOSE, PERSPECTIVE PROGRESS, PERFORMANCE TRUE VALUE ACCOUNTING
- 10. PROFIT, PEOPLE, PLANET PLACE, POLLUTION PURPOSE, PERSPECTIVE PROGRESS, PERFORMANCE PRODUCTS, PROCESSES TRUE VALUE ACCOUNTING
- 11. PROFIT, PEOPLE, PLANET PLACE, POLLUTION PURPOSE, PERSPECTIVE PROGRESS, PERFORMANCE PRODUCTS, PROCESSES POWER TRUE VALUE ACCOUNTING
- 12. PROFIT, PEOPLE, PLANET PLACE, POLLUTION PURPOSE, PERSPECTIVE PROGRESS, PERFORMANCE PRODUCTS, PROCESSES POWER Cost, PRICE, Value TRUE VALUE ACCOUNTING
- 13. Complex system … competing agendas TRUE VALUE ACCOUNTING
- 14. TRUE VALUE ACCOUNTING Peter Drucker, a well known management guru famously said: “You can't manage what you don't measure”
- 18. MULTI DIMENSION IMPACT ACCOUNTING
- 19. MULTI DIMENSION IMPACT ACCOUNTING
- 22. MULTI DIMENSION IMPACT ACCOUNTING
- 27. MULTI DIMENSION IMPACT ACCOUNTING COMPONENTS OF US MONEY SUPPLY
- 29. MULTI DIMENSION IMPACT ACCOUNTING US FEDERAL RESERVE ASSETS
- 30. MULTI DIMENSION IMPACT ACCOUNTING
- 33. Complex system … competing agendas TRUE VALUE ACCOUNTING
- 34. The Phillips Machine – MONIAC – at Cambridge TRUE VALUE ACCOUNTING
- 44. Complex system … competing agendas TRUE VALUE ACCOUNTING
- 46. STEADY STATE TRUE VALUE ACCOUNTING
- 47. POSITIVE PROGRESS TRUE VALUE ACCOUNTING
- 48. DETERIORATION OF STATE TRUE VALUE ACCOUNTING
- 50. YELLOW: The PEOPLE piece … Human Capital (HC) DIRTY BROWN: The ECONOMIC piece … Man Built Capital (MBC) GREEN: NATURE, ENVIRONMENT … Natural Capital (NC) COLOR KEY TRUE VALUE ACCOUNTING
- 51. Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 52. Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 53. Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 54. Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 55. Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 56. Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 57. Fundamentals of the Socio-Enviro-Economic System Human Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 58. Period 1 2 3 4 5 6 7 8 9 10 11 12 HC MBC NC TRUE VALUE ACCOUNTING HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC
- 59. Period 1 2 3 4 5 6 7 8 9 10 11 12 HC MBC NC TRUE VALUE ACCOUNTING HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC HC MBC NC
- 60. Complex system … competing agendas TRUE VALUE ACCOUNTING
- 61. Fundamentals of the Socio-Enviro-Economic System Human Capital Man Built Capital Natural Capital Hum an Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 62. Fundamentals of the Socio-Enviro-Economic System Human Capital Man Built Capital Natural Capital TRUE VALUE ACCOUNTING
- 63. Fundamentals of the Socio-Enviro-Economic System Financial Capital Human Capital Man Built Capital Natural Capital Man Built Capital Natural Capital Human Capital Split out Financial Capital from other components of Man Built Capital TRUE VALUE ACCOUNTING
- 64. Fundamentals of the Socio-Enviro-Economic System Financial Capital Human Capital Man Built Capital Natural Capital SunSun Man Built Capital Natural Capital Sun Human Capital Add Sun … the source of all energy Split out Financial Capital from other components of Man Built Capital TRUE VALUE ACCOUNTING
- 65. Fundamentals of the Socio-Enviro-Economic System Financial Capital Human Capital Man Built Capital Natural Capital SunSun Financial Capital Human Capital Man Built Capital Natural Capital SunSunSun Man Built Capital Natural Capital Sun Human Capital Add Sun … the source of all energy Split out Financial Capital from other components of Man Built Capital Reorder because Financial Capital metrics exist TRUE VALUE ACCOUNTING
- 67. FINANCIAL ACCOUNTS Financial Accounts describe Economic Activity REVENUES Products Sold X Price Products Bought X Price Energy Bought X Price Employee Benefits Employee Payroll Other expenditures Asset use costs Depreciation Financial expenses Pro-good expenditures Taxation Profit TRUE VALUE ACCOUNTING
- 68. FINANCIAL ACCOUNTS OF AN ENTERPRISE Financial Accounts describe Economic Activity REVENUES Products Sold X Price Products Bought X Price Energy Bought X Price Employee Benefits Employee Payroll Other expenditures Asset use costs Depreciation Financial expenses Pro-good expenditures Taxation Profit Cash Current Assets Fixed Assets Intangible Assets TOTAL ASSETS Current Liabilities Long Term Debt Owners' Equity Cash Current Assets Fixed Assets Intangible Assets TOTAL ASSETS Current Liabilities Long Term Debt Owners' Equity Balance Sheet BOP Balance Sheet EOP TRUE VALUE ACCOUNTING
- 69. FINANCIAL ACCOUNTS ADD positive impact not accounted for REVENUES Products Sold X Price Products Bought X Price Energy Bought X Price Employee Benefits Employee Payroll Other expenditures Asset use costs Depreciation Financial expenses Pro-good expenditures Taxation Profit REVENUES Products Sold X Price VALUE to buyer Equals HUMAN CAPITAL ADD Wages and benefits What value to employee? Pro-good expenditures What value to society? Taxation What value to society? POSITIVE IMPACT NOT ACCOUNTED FOR TRUE VALUE ACCOUNTING
- 70. FINANCIAL ACCOUNTS DEDUCT negative impact not accounted for REVENUES Products Sold X Price Products Bought X Price Energy Bought X Price Employee Benefits Employee Payroll Other expenditures Asset use costs Depreciation Financial expenses Pro-good expenditures Taxation Profit For products and energy bought and this process Free use of the commons and public services & infrastructure Degradation of land Water scarcity and degradation Air pollution: Impact on people Air pollution: Impact on climate Air pollution: Impact on people Solid waste Resource depletion Environmental Degradation Negative impact TRUE VALUE ACCOUNTING
- 71. FINANCIAL ACCOUNTS ACCOUNTING FOR EVERYTHING REVENUES Products Sold X Price Products Bought X Price Energy Bought X Price Employee Benefits Employee Payroll Other expenditures Asset use costs Depreciation Financial expenses Pro-good expenditures Taxation Profit REVENUES Products Sold X Price VALUE to buyer Equals HUMAN CAPITAL ADD Wages and benefits What value to employee? Pro-good expenditures What value to society? Taxation What value to society? For products and energy bought and this process Free use of the commons and public services & infrastructure Degradation of land Water scarcity and degradation Air pollution: Impact on people Air pollution: Impact on climate Air pollution: Impact on people Solid waste Resource depletion Environmental Degradation POSITIVE IMPACT NOT ACCOUNTED FOR Negative impact TRUE VALUE ACCOUNTING
- 72. Financial Accounts describe Financial Impact Financial Costs Financial Profit Financial Revenues Financial Balance Sheet BOP Financial Balance Sheet EOP Impact Accounts reflect Externalities Balance Sheet Changes Impact on Institutions Impact on People Impact on Society Impact on Physical Impact on Knowledge Impact on Resources Impact on Environment Impact on EcoSystem Balance Sheet Changes Balance Sheet Changes Balance Sheet Changes TRUE VALUE ACCOUNTING
- 73. Financial Accounts describe Financial Impact Impact Accounts reflect Externalities Impact on Institutions Impact on People Impact on Society Impact on Physical Impact on Knowledge Impact on Resources Impact on Environment Impact on EcoSystem Balance Sheet Changes Balance Sheet Changes Balance Sheet Changes TRUE VALUE ACCOUNTING Financial Accounts describe Financial Impact Financial Costs Financial Profit Financial Revenues Financial Balance Sheet BOP Financial Balance Sheet EOP Impact Accounts reflect Externalities Balance Sheet Changes
- 74. Sun BOP EOP Sun Financial Capital Human Capital Man Built Capital Natural Capital Sun SunSun Financial Capital Human Capital Man Built Capital Natural Capital Sun Financial Accounts describe Financial Impact Impact Accounts reflect Externalities Impact on Institutions Impact on People Impact on Society Impact on Physical Impact on Knowledge Impact on Resources Impact on Environment Impact on EcoSystem Balance Sheet Changes Balance Sheet Changes Balance Sheet Changes TRUE VALUE ACCOUNTING Financial Accounts describe Financial Impact Financial Costs Financial Profit Financial Revenues Financial Balance Sheet BOP Financial Balance Sheet EOP Impact Accounts reflect Externalities Balance Sheet Changes
- 75. MULTI DIMENSION IMPACT ACCOUNTING
- 77. MULTI DIMENSION IMPACT ACCOUNTING
- 78. MULTI DIMENSION IMPACT ACCOUNTING
- 79. MULTI DIMENSION IMPACT ACCOUNTING
- 80. REMINDER This slideset is A WORK-IN-PROGRESS. It will be upgraded periodically. It is part of a series of more than 100 slidesets. Navigation to these is available here: http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=N1-Slidesets-p3 More about the True Value Metrics initiative is at: http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav FEEDBACK is welcome. Please email to Peter Burgess … peterbnyc@gmail.com … with a catchy phrase in the subject line so that it gets attention, and please identify the specific slideset(s) or webpage involved. TRUE VALUE ACCOUNTING
- 81. THANK YOU Some links and contact information: Email Peter Burgess … peterbnyc@gmail.com Peter Burgess LinkedIn profile https://www.linkedin.com/in/peterburgess1 Link to TrueValueMetrics.org website http://www.truevaluemetrics.org/ Link to navigation to other resources: http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#1 TRUE VALUE ACCOUNTING