Let's pretend our debts don't exist

[tangaroa]

I heard from someone in local government that management was pushing accountants to move away from accrual accounting (also known as accounting) and back to cash-based accounting whose inaccuracy and incompleteness is the reason we invented accrual accounting. The context for this was a migration from one accounting software package to another, but according to a Bloomberg report, the idea to move to a cash basis comes from the state governor's office.