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Why you should treat your marriage like a business entity

22 July 2016, 08:30 Solomon Opala

If we began treating our marriages like a business entity or organization, they would have a greater chance of survival. Business is run stringently and with great care using tried and tested accounting principles to ensure that it grows and becomes increasingly profitable.

1. Economic entity principle.

This is keeping separate the transactions of the business entities to prevent financial results of multiple entities from becoming entangled. Stop comparing your marriage with your parents’ and don’t allow interference from girlfriends and colleagues. 

2. Full Disclosure Principle.

In In business, this is when you include in the financial statements of an entity and all of the information that might affect a stakeholder's understanding of those statements. In marriage, this is when you speak the truth and tell your partner about your dark past so he doesn’t have to wait four years to get to know you.

3. Going concern principle.

This is the assumption that an entity will remain in business. This assumption allows you to defer the recognition of some expenses like depreciation to later periods. In marriage, you should treat your partner as a permanent part of you. Stop keeping money secretly for a rainy day or buying plots of land and not informing him for fear that in the event the union ends you have something to lean on. When you always think of the worst, your actions become prophetic of the future.

Read Also:When you have to ask ‘what are we?’

4. Matching principle.

In business, we record all expenses related to a revenue-generating transaction at the same time that you recognize the revenue or simply put accrual basis. In marriage when there is a dispute, stick to what is in contention; stop raising past issues and general accusations like you always forget to buy milk or never listen.

5. Materiality principle.

We include all transactions in the financial statements if their omission would otherwise influence the decisions of a person using the financial statements. In marriage we raise important issues and leave non issues to rest. Choose your battles and avoid contention over immaterial things. This is so as not to be seen as petty or nagging and may end up not being taken serious when real issues arise.

6. Reliability principle.

In business we only record those transactions for which we can obtain objective evidence (such as a supplier invoice). In marriage we only act on reliable information not rumors or hutch feelings about our spouse.  Avoid suspicion and unverified sources.

- MyNews24

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

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