Momentum accounting and triple-entry bookkeeping is an alternative accountancy system developed by Japanese academic Yuji Ijiri and is the title of his 1989 monograph. It is a proposed alternative to double-entry bookkeeping, the method favored by the worldwide financial accounting system.

What is third entry system?

In the Triple-Entry Accounting system, all accounting entries are cryptographically sealed by a third entry and thus, it works as a deterrent towards manipulations and financial fraud. ... But this unique system of Triple-Entry Accounting leaves no space for any corrupt, weak human link as it is immutable.

What is a triple-entry ledger?

At a high-level, triple-entry accounting is an alternative method of accounting in which a third component is added after the global standard debit and credit.