richards changes

git-svn-id: svn+ssh://svn.gnucash.org/repo/gnucash/trunk@2981 57a11ea4-9604-0410-9ed3-97b8803252fd

doc/sgml/C/xacc-acctypes.sgml

@@ -6,9 +6,9 @@
 <SECT1>
 <TITLE> Account Types</TITLE>
 <PARA></PARA>
-<PARA> GnuCash supports a number of different account types.  You should
+<PARA> GnuCash supports a number of different account types.  
-always choose the type that is appropriate for what you want to
+Always choose the type that is appropriate for what you want to
-record.  If you're not sure, the explanations below should help you
+record.  If you're not sure, the following explanations should help you
 decide.
 
     <GLOSSLIST>
@@ -23,38 +23,32 @@ decide.
 <GLOSSENTRY>
 <GLOSSTERM><EMPHASIS>Bank</EMPHASIS></GLOSSTERM>
 <GLOSSDEF>
-<PARA>The <EMPHASIS>Bank</EMPHASIS> account type denotes a savings or
+<PARA>The <EMPHASIS>Bank</EMPHASIS> account type denotes savings or
-      checking account held at a bank or other financial
+      checking accounts held at a bank or other financial
       institution.
-      Such accounts sometimes bear interest.
+      Some of these accounts may bear interest.
+      This is also the appropriate account type for check (debit) cards,
+      which directly withdraw payments from a checking account.
       </PARA>
 </GLOSSDEF>
 </GLOSSENTRY>
 <GLOSSENTRY>
-<GLOSSTERM><EMPHASIS>Credit</EMPHASIS></GLOSSTERM>
+<GLOSSTERM><EMPHASIS>Credit Card</EMPHASIS></GLOSSTERM>
 <GLOSSDEF>
-<PARA>The <EMPHASIS> Credit</EMPHASIS> card account is used to denote credit
+<PARA>The <EMPHASIS>Credit Card</EMPHASIS>account type is used 
-      card accounts, whether involving floating lines of credit as
+      to denote credit
-      with VISA, MasterCard, or Discover, as well as others like
+      card accounts, both for cards that allow floating lines of 
-      American Express that do <EMPHASIS> not</EMPHASIS> permit you to maintain
+      credit (e.g. VISA, MasterCard, or Discover) 
-      continuing balances.</PARA>
+      and with cards that do not permit continueing balances
-<PARA>The introduction of <ULINK URL="http://www.visa.com/pd/debit/checkcard.html"> Check
+      (e.g.  American Express)
-      Cards</ULINK> where payments are withdrawn directly from a
-      checking account makes the selection less clear; it is
-      probably more appropriate to treat a "Check Card" as a <EMPHASIS>      Bank</EMPHASIS> account, as it does withdraw amounts directly from
-      such an account, not really involving any granting of
-      credit.
-      Note the ambiguity of AMEX and Check Cards.  This shows that
-      deciding where to put accounts is not an exact science.
-      </PARA>
 </GLOSSDEF>
 </GLOSSENTRY>
 <GLOSSENTRY>
 <GLOSSTERM><EMPHASIS>Asset, Liability</EMPHASIS></GLOSSTERM>
 <GLOSSDEF>
 <PARA><EMPHASIS>Asset</EMPHASIS> and <EMPHASIS>Liability</EMPHASIS> accounts are used for
-      tracking things that are of value, but that are not so
+      tracking things that are of value, but that are not
-      directly translated into <EMPHASIS>cash</EMPHASIS>.
+      directly translatable into <EMPHASIS>cash</EMPHASIS>.
       For instance, you might collect the costs of purchasing a
       house into an asset account entitled <EMPHASIS>My
       House</EMPHASIS>, or the
@@ -82,10 +76,11 @@ decide.
 <GLOSSDEF>
 <PARA>Securities that you invest in are a form of asset that
       are normally acquired with the express purpose of receiving
-      income either in the form of dividends, interest, or <LINK LINKEND="APPR"> Capital Gains.</LINK> There are a
+      income either in the form of dividends, interest, or 
-      multitude of securities markets around the world, and
+      <LINK LINKEND="APPR"> Capital Gains.</LINK> There are 
-      securities that are widely enough traded can have pretty
+      securities markets around the world, and
-      concrete values that may be analyzed on a day-to-day
+      widely traded securities with fairly
+      concrete values may be analyzed on a day-to-day
       basis.</PARA>
 <PARA>
         Stock and Mutual Fund accounts are typically tracked in
@@ -126,14 +121,14 @@ decide.
 <GLOSSTERM><EMPHASIS><LINK LINKEND="XACC-INCOMEEXPENSE">Income,
       Expense</LINK></EMPHASIS></GLOSSTERM>
 <GLOSSDEF>
-<PARA><EMPHASIS> Income</EMPHASIS> and <EMPHASIS>Expense</EMPHASIS> account types are used to
+<PARA><EMPHASIS> Income</EMPHASIS> and <EMPHASIS>Expense</EMPHASIS> 
-      record income and expenses.
+     account types are used to record income and expenses.
      For example, if you deposit a paycheck in your bank account, you
-should mark it as a transfer from an 'income' account type.  
+should mark it as a transfer from an 'income' account.  
 Marking income in this way helps balance the books: the change in your
-net worth in the course of a few ekks, a few months, or a year, should
+net worth in the course of a few weeks, a few months, or a year, should
-exactly equal your income (minus expenses) for the same period.  </PARA>
+exactly equal your income (minus expenses) for the same period.  
-The value stored in the bank account contributes to your 'net worth';
+The value stored in the bank account contributes to your 'net worth',
 whereas the income contributes to your 'profits'.
 
 </PARA>
@@ -153,10 +148,10 @@ should be marked as a transfer from an account of type 'equity'.
 Alternately, if you close and reopen all your books at the end of every
 quarter/year, the 'equity' will be your net-worth at the begining of the 
 period: it equal all assets minus all liabilities.  
-As time goes  by, you will have both income and expenses. 
+As time passes, you will have income and expenses. 
 At the end of the year, your net
 worth will be the equity at the begining of the year, plus all income
-minus all expense.  This value will become, of course, the equity for
+minus all expense.  This value then becomes the equity for
 the next accounting period.
       </PARA>
 </GLOSSDEF>