Banking The Past: Extending Accounting in The Information Age

While information about the future is speculative at best, information about the past can be determined with certainty. The past can be recorded and committed to memory, ready for our reflection upon it as a means of dealing with and preparing for the future. As we go through life, we use the record of our past, perhaps written or perhaps imprinted unconsciously upon our brain, to meet, solve, correct, or otherwise adapt to the challenges that are facing us. We rely upon our past to reduce the risks and maximize the benefits as we commit resources to an unforeseeable future.