From pun to innovation

The idea of the Accounting novelty elaborated within the project was pointed by Erich J. Goller in his book Just for the Pun of It (ISBN: 978-1-257-75895-1) published by apfpublisher.com. Below is the quoted story from the book (page 102).

That 100 dollar bill could be even fake (and torn to pieces by the tourist right before the eyes of the amazed hotel owner), and still all mutual obligations would be offset. In fact, the bill in this example is just materialized piece of information which has been properly used. The diagram below illustrates how it could be done by means of information system developed for the purpose of reduction of mutual obligations.

The accounting details reflecting offset of mutual obligations in the simple circle are described here.