Thanh Ha Phan is a third-year student from Vietnam in the field of International Business and Management Studies (IBMS) at Hogeschool INHOLLAND Rotterdam. At present she is doing an internship at Demotech. She works on Demotech's design for a bookkeeping system. In the target page of the bookkeeping Wiki her work is described as well as at other locations in this Wiki, Tough it is not the idea to make use of a computer in our bookkeeping system, it has helped her to line up what she learned at school with the Demotech system. I copy her weekly report to this "What's New" item, feeling confident that a bridge has been made between one of Demotech's wildest ideas and the modern financial professionalism as taught at "InHolland".

I made a progress with the bookkeeping system, successfully put it into spreadsheet. Moreover, I did add more columns of some certain accounts in the bookkeeping system after the discussion with Reinder and Mr Anker. We are improving the system.

Through the searching process, I have learnt a lot more about accounting system and finance. After studying all the information from the search, I have had the idea how to combine the cash basis and accrual basis into Demotech's system. This is not only just a normal bookkeeping as usual, but is the best with the efficient input for financial documents such as: income, cash flow and balance sheet. Most of all, the system has to be loyal to the underlying targets and goals: transparent, easy for laymen to do and check. With that guideline, I am still working on the method.

Up till now, the latest version of bookkeeping method is available that meets most of the above requirements. This version provides such information as: how much profit or loss the company made over a period of time; how much cash in hand; how much does the company have to pay or is able to receive in the near future? I did make the expenses and expenditure for manufacturing separate. This is one of the most concerned questions from Mr Anker. With this headway, we now can calculate the gross profit, operating income and net income. The most important thing is that the system still maintain the spirit of the target: transparent, easy for laymen to do and check.

The tasks for next week is to keep working on the system to attain the perfection. Continuing with the research to find out more and compare the similarities and dissimilarities. This might raise more requirements and questions about the system.