With two chapters of the proposed common framework now official, it was time for me to revise Chapter 5. You can find the result at http:://vanbreda.org/theory/chap05_4.pdf (254kb). I have not hesitated to throw my opinion in the chapter on grounds that we make accounting seem to sterile and to encourage readers to ponder a little more on accounting. Please don’t hesitate to let me know if you think I sound to harsh. I am in search of newer references for this chapter so if you know of any — or have written something yourself — please let me know.