The Summa is an accounting blog. You know, debits, credits, accounting rules and auditor problems.
Sometimes, though, economic issues seep through. Thanks to an alert contributor at AECM (the e-mail listserv for accounting professors), I have been watching a really good animated video explaining Quantitative Easing. The video, uploaded by Youtube contributor MALEKANOMS.
It seems as if the Fed and its QE programs is more fouled up than the audit model, the Big-4 lock on the audit industry, the SEC and its management of American accounting standards, and the International Accounting Standards Board. Of course, we all know that these are fouled up beyond are imaginable recognition.
Debit and credit – – David Albrecht