The platinum rule of accounting is the fundamental formula Assets = Liabilities + Equity (A=L+E), which represents the essential balance between what a business owns and how it is financed (debt and owner's investment). This formula must hold true at all times, separating assets from the debt incurred to acquire them.
The Platinum Rule was popularized in Dr. Tony Alessandra's book of the same name. The Platinum Rule goes this way: “Treat others the way they want to be treated.”
The three golden rules of accounting are (1) debit all expenses and losses, credit all incomes and gains, (2) debit the receiver, credit the giver, and (3) debit what comes in, credit what goes out.
The golden rule is to do unto others as you'd have them do unto you; the platinum rule is to do unto others as they'd want done unto them. In other words, reject reciprocity as an ideal, in favor of something like empathy. There may be settings in which this makes sense.
The Platinum Rule encourages individuals to "Treat others as they would like to be treated." In other words, it emphasizes the importance of understanding and respecting the preferences, communication styles, and needs of others to foster stronger relationships.
Compared to the Golden Rule, the Platinum Rule offers a more effective leadership approach; it promotes the understanding and accommodation of individual needs, potentially leading to increased inclusivity, engagement, and stronger workplace relationships.
It encourages individuals to treat others how they would want to be treated, barring the way you want to be treated is exactly the same for everyone else. A bold assumption. A more modern take on this idea is the Platinum Rule—treating others the way they want to be treated.
The 7 Habits emphasize proactive behavior, goal setting, prioritization, mutual benefit, communication, collaborative synergy, and continuous self-improvement. This methodology encourages a balanced and holistic approach to personal and interpersonal growth, aiming to foster meaningful and lasting success.
“Do unto others as they would like done unto them.” ~The Platinum Rule. Coined by Dr. Tony Alessandra in his book, The Platinum Rule, the Platinum Rule is a different approach than the Golden Rule, which tells us to treat others the way we want to be treated.
These red flags may include unusual fluctuations in account balances, inconsistent trends across reporting periods or transactions that lack proper documentation. By addressing these concerns promptly, businesses can mitigate financial risks and maintain stakeholder confidence.
There are five most referenced fundamentals of accounting. They include revenue recognition principles, cost principles, matching principles, full disclosure principles, and objectivity principles.
Luca Pacioli, often referred to as the 'Father of Accounting,' was an Italian mathematician, Franciscan friar and seminal figure in the history of modern accounting.
Ashray mentions a newer concept, the "platinum 10 minutes", which refers to the first 10 minutes of treatment after a traumatic injury. This time period is critical for getting the patient to a hospital and starting treatment.
It holds that individuals obtain 70% of their knowledge from job-related experiences, 20% from interactions with others, and 10% from formal educational events.
At Maverik, we believe in the Titanium Rule (which is even better than the Golden Rule, because it means that we treat others better than they expect to be treated). To show our hardworking team members that we care, we created Titanium Care - a program to help them and their families if they're impacted by COVID- 19.
Confidence is 1 of the 7 C's of success. The 7 are Courage, Commitment, Competence, Confidence, Communication, Connection, and Consistency. In that order.
The 6 Laws of Success which are covered are: *Law #1 - Upgrade and Protect Your Mind*Law #2 - Set Goals Properly To Achieve Goals Often*Law #3 - Adjust Your Attitudes for High Altitude*Law #4 - Break Bad Habits and Form Good Habits*Law #5 - Understand Money - Then Build & Protect Your Financial House*Law #6 - Utilize ...
In this scenario, you apply the Golden Rule because you treat others how they would like to be treated... even if you friend might hate coffee. Platinum Rule: “I want to get my friend the beverage she likes, therefore I will ask her what she would like to drink.”
Platinum is a chemical element; it has symbol Pt and atomic number 78. It is a dense, malleable, ductile, highly unreactive, precious, silverish-white transition metal.
The Platinum Rule, which would have us consider—doing unto patients as they would want done unto themselves—offers a standard that is more likely to result in treatment decisions that are consistent with patients' personal needs and objectives.
In contrast to the Golden Rule of treating others the way you'd like to be treated, the Platinum Rule suggests we treat people as they would want to be treated.
Coined by Dr. Tony Alessandra, the Platinum Rule flips the Golden Rule on its head. Instead of “Treat others the way you want to be treated,” it becomes: “Treat people the way they want—and need—to be treated.”
