[44716] in Cypherpunks
Re: Meeting notes from ANSI X.9 Meeting on Electronic Payment
daemon@ATHENA.MIT.EDU (E. ALLEN SMITH)
Tue Dec 5 13:46:11 1995
Date: Tue, 5 Dec 1995 13:37 EDT
From: "E. ALLEN SMITH" <EALLENSMITH@ocelot.Rutgers.EDU>
To: pfarrell@netcom.com
Cc: cypherpunks@toad.com
X-Envelope-To: cypherpunks@toad.com
X-Vms-To: IN%"pfarrell@netcom.com"
From: IN%"pfarrell@netcom.com" 5-DEC-1995 02:49:01.83
Accountants know how to meet acceptable auditing standards when
transactions are in cash. I learned this from the CPA I live
with.
-----------------
How does this work? While I can see tracking expenditures (i.e.,
the advertized price of an item and the amount of that item purchased by a
store), it would appear decidedly more difficult in the case of service
companies (and even more so for self-employed individuals). I am not referring
to a company being able to keep track of its own books; I am referring to the
IRS accepting those books as the real ones, when a large part of the company's
income is in cash and therefore hard to trace.
-Allen
