Module IV — Ledger, Equity and System Accounting

Status: outline. Lecture body not authored. Phase: 3 SURVIVAL

One economic source of truth.

Events → Journal → Ledger → Account State → Replay Verification

Unique process — Ledger identity

Equity = Balance + UnrealizedPnL + AccruedSwap

Contents (curriculum): immutable journal; Balance; unrealised / realised P&L; Equity; accrued swap; commissions; slippage; holding fees; transfers; broker write-offs; event ordering; double-entry reconciliation; ledger replay.

Special case: swap credited straight to Balance vs swap accrued first in Equity.

Lab: reconstruct Balance from zero using only the journal.