Patent ID: 7620573
Filing Date: 2009-11-17
Classification: G06Q

Abstract:
1. A computer implemented financial accounting method, implemented on a computer usable medium having a computer readable program code embodied therein, said computer readable program code adapted to be executed to implement a method for generating and outputting an income statement, said method comprising: providing a computer system, wherein the system comprises the computer usable medium with the computer readable program code being executed to perform the following steps: electronically receiving, at the computer usable medium, at least one credit and one debit posting, said at least one credit and one debit posting comprising an identification of an account to be credited, an identification of an account to be debited, and a posting value to be credited to said account to be credited and to be debited to said account to be debited; automatically updating at least one position account based upon said posting value to be credited to said account to be credited and to be debited to said account to be debited, said at least one position account being either an asset and/or a liability account; automatically updating at least one revenue, expense, Market Moves, and/or Market Income account based upon said posting value to be credited to said account to be credited and to be debited to said account to be debited; obtaining a balance for said at least one position account; obtaining an r value, wherein r is an expected rate of return; automatically using an Ex Ante Equation to calculate at least one Market Income value based upon said balance of said at least one position account and based upon said obtained r value, wherein said Ex Ante Equation being: automatically outputting an income statement, said outputted income statement containing either said at least one Market Income value and/or a value that subsumes said at least one Market Income value.