The contentof the bookkeepingsystem should includetwosegments: the liabilityaccountingbookkeeping system andeconomicactivityitemaccounting bookkeeping system.
Given the sovereign debt turmoil in the Eurozone and the approaching debt problems for the US (as the US debt-to-GDP figures escalate over 100% by mid-2012 without accounting for state unfunded pension liability), debtor nations will find it difficult to finance large-scale consumption economies any longer.
An accounting change last year raised the liability of unused frequent-flier miles on company balance sheets and gave airlines more incentive to get miles off their books.