Patent ID: 8577758

Claim:
A computer implemented financial accounting method to implement a method for generating and outputting an income statement or balance sheet, said method comprising: providing a computer system, wherein the system comprises a computer usable medium with a computer readable pr code being executed to perform the following steps: electronically receiving, at the computer system, 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, a future date, and a first posting value, said first posting value to be used to credit said account to be credited and to be used to debit said account to be debited; providing a Future Flow Table being defined to include at least columns Account, Date, CdType, Amount; automatically posting said first posting value to said Future Flow Table; automatically calculating a first present value of said first posting value contained in said Future Flow Table using said future date; automatically updating at least one position account based upon said calculated first present value, said at least one position account being either an asset or a liability account; automatically updating at least one revenue, expense, Market Income, or Market Moves account based upon said calculated first present value; and wherein Market Income is obtained for the following Equation: Market Income=(obtained balance for said at least on position account)*(1−[1/(1 +r)] );and where r is an expected rate of return; and automatically outputting at least one income statement or at least one balance sheet, said outputted income statement or balance sheet containing a numeric value derived from said first posting value and said present value.