Economical and Financial Management with a Vision Based on Accounting

This article focused on financial accounting basics. The paper argues, using global accounting rules, that government and central bank money isn't debt. Under a fractional reserve system, it suggests that only part of the commercial bank's money could be seen as debt. The study analyses the implications for the correct concept of money. It also sets up how the profits connected to the release of these funds should be recorded in the official documents of the­ institutions that issue them. A new outlook, makes things more understandable, especially concerning the digital currencies, commercial banks, and the true nature of the capital in the central banks. New measures of seigniorage are being developed and applied which at the moment give approximate figures about it. The data show that seigniorage is a phenomenon with quantitative significance, with the greatest part being extracted by commercial banks.