Warsaw, Poland

Postgraduate Banking Accounting Studies

Podyplomowe Studia Rachunkowości Bankowej

Table of contents

Postgraduate Banking Accounting Studies at SGGW »
Definitions and quotes »

⇑Postgraduate Banking Accounting Studies at SGGW

Language: Polish Studies in Polish

Subject area: economy and administration

website: www.sggw.edu.pl/en/recruitment/postgraduate/

⇑Definitions and quotes

Accounting

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.

Wikipedia

Banking

Banks do not have an obligation to promote the public good.

Alexander Dielius, CEO, Goldman Sachs, Germany, Austria, Eastern Europe, January 2010 statement, as quoted in Wall Street Journal, May 2010.

Wikiquote

Banking

The banks do create money. They have been doing it for a long time, but they didn't quite realise it, and they did not admit it. Very few did. You will find it in all sorts of documents, financial textbooks, etc. But in the intervening years, and we must all be perfectly frank about these things, there has been a development of thought, until today I doubt very much whether you would get many prominent bankers to attempt to deny that banks create credit.

H. W. White, Chairman of the Associated Banks of New Zealand, to the New Zealand Monetary Commission, 1955.

Wikiquote

Banking

The actual process of money creation takes place in commercial banks. As noted earlier, demand liabilities of commercial banks are money. … Confidence in these forms of money also seems to be tied in some way to the fact that assets exist on the books of the government and the banks equal to the amount of money outstanding, even though most of the assets themselves are no more than pieces of paper...

Federal Reserve Bank of Chicago; Nichols, Dorothy M (1961). Modern Money Mechanics; a workbook on deposits, currency and bank reserves.. p. 3. OCLC 510802. The 1992 revision of this booklet is available on wikisource

Wikiquote

website:
www.sggw.edu.pl/en/recruitment/postgraduate/