My Qualitative
Balance Sheet
As accountant by training and qualification, I am prone to
reckon everything numerically. But my
personal Balance Sheet of Assets and Liabilities in conventional terms of rupee
is dismal. I therefore have thought of drawing the same
in qualitative terms. No date other than
the last day of 2018, a year when I completed 80 years of an uneventful life,
is better suited for this purpose.
For the uninitiated in accountancy, the Balance Sheet is an
enigma listing, as it does, one’s assets and liabilities with the same total on
each side. If their totals do not tally,
pity the accountant burning midnight oil finding the cause and eventually
proving the totals to the satisfaction of the auditors.
To escape from this problem I have drawn my personal balance
sheet in qualitative terms. There is no
question of proving the totals under this method.
Here how it goes. I
have not used the conventional “T” format of Balance Sheet.
My Balance Sheet as on completion of 80 years
of age
Capital &
Liabilities
A. Capital
Family upbringing and Values
Education
Organisations & Work culture gained
B. Liabilities
Long term: Unmet life/career ambitions
Short term:
Prejudices /biases
Attitudinal shortcomings
Assets
A. Fixed Assets
Blessings of parents, gurus and God
Family Harmony
Goodwill of relations and friends
B. Current Assets
Professional recognition
Community acceptance
A tool in strategic management is the Strength, Weakness, Opportunities and
Threats ( SWOT) Analysis . The usefulness of this analysis is to exploit one’s
strengths, overcome weaknesses and convert
the threats into opportunities.
The Qualitative Balance Sheet may also be seen as an analysis to enhance
one’s non- monetisable assets and liquidate attitudinal liabilities.
Long term assets are distinguished from the current assets due to their longevity in generating satisfaction and happiness.
ReplyDeleteI learn following tips for living a well balanced life from your “Balance Sheet”
1. Take care of and nurture yourself. You cannot accomplish anything if you're unhealthy. ...
2. Know what your priorities are. Balance does not entail cramming in every activity possible. ...
3. Create an efficient mindset. Be organized and plan ahead. ...
4. Expect the unexpected. ...
5. Maintain a positive mental attitude. In my work I am often reminded that what works for some people does not necessarily work for others; and that one person’s idea of balance may not constitute anything remotely balanced from another person’s perspective.
So I want to address the various elements of life that can require balancing and offer some suggestions to find the mix that works best for me and others.
Appreciable "Balance Sheet" of a successful life.
Regards.
Thanks
ReplyDeleteI am glad the blog has inspired positive reactions in you.