Avidius Cassius


Gaius Avidius Cassius (c. 130 – July 175) was a Roman general and usurper who briefly ruled Egypt and Syria in 175.

Father of Double-Entry System


Fra Luca Bartolomeo de Pacioli (sometimes Paccioli or Paciolo; c. 1447–1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and a seminal contributor to the field now known as accounting. He is referred to as “The Father of Accounting and Bookkeeping” and he was the first person to publish a work on … Continue reading Father of Double-Entry System

Accounting equation


The basic accounting equation is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits. In a corporation, capital represents the stockholders’ equity.

Net profit


Net profit, also referred to as the bottom line, net income, or net earnings is a measure of the profitability of a venture after accounting for all costs. In a survey of nearly 200 senior marketing managers, 91 percent responded that they found the “net profit” metric very useful. In accounting, net profit is equal … Continue reading Net profit

Utopia


A utopia is a community or society possessing highly desirable or perfect qualities. The word was coined in Greek by Sir Thomas More for his 1516 book Utopia, describing a fictional island society in the Atlantic Ocean. The term has been used to describe both intentional communities that attempt to create an ideal society, and … Continue reading Utopia

The Hook


The Hook, or Hookman, is a classic example of an urban legend. The basic premise involves a young couple parked at a dark lovers’ lane. The radio plays music as the couple make out. The music is interrupted by an announcer who reports that a serial killer has just escaped an institution which is nearby. … Continue reading The Hook