--- title: "Meaning & Key Takeaway of: Legacy accounting: Will you have been an…" description: "\"“Legacy accounting: Will you have been an asset or a liability on the world's balance sheet?”\" — Ryan Lilly" image: "https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg" --- # Legacy accounting: Will you have been an asset or a… ![“Legacy accounting: Will you have been an asset or a liability on the world's balance sheet?” quote by Ryan Lilly](https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg) [Download](https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg) [Open image](https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg) > ““Legacy accounting: Will you have been an asset or a liability on the world's balance sheet?”” [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Questioning whether one's life contributes positively or negatively to humanity's collective legacy. **In simple terms:** Assess personal impact. Key Takeaway Strive to be an asset to society. Themes legacy impact responsibility Mood inquisitive serious Type philosophical reflective When to use this quote - career choices - volunteering - environmental actions Key Concepts ethics societal contribution selfevaluation Questions to Reflect On - What actions define you as an asset? - How do you measure personal liability? A Different Perspective Legacy can be ambiguous and hard to measure. ★ ★ ★ ★ ★ No ratings yet [Accounting](https://sms4smile.com/quotes/about/accounting/) [Accounting Asset](https://sms4smile.com/quotes/about/accounting-asset-3780193/) [Asset](https://sms4smile.com/quotes/about/asset/) [Asset Liability](https://sms4smile.com/quotes/about/asset-liability-2501995/) [Balance Sheet](https://sms4smile.com/quotes/about/balance-sheet-359532/) [Balance-sheet](https://sms4smile.com/quotes/about/balance-sheet-14500/) [Donation](https://sms4smile.com/quotes/about/donation/) [Giving](https://sms4smile.com/quotes/about/giving/) [Impact](https://sms4smile.com/quotes/about/impact/) [Legacy](https://sms4smile.com/quotes/about/legacy/) [Legacy Accounting](https://sms4smile.com/quotes/about/legacy-accounting-3780192/) [Liability](https://sms4smile.com/quotes/about/liability/) [Mattering](https://sms4smile.com/quotes/about/mattering/) [Mission](https://sms4smile.com/quotes/about/mission/) [Motivation](https://sms4smile.com/quotes/about/motivation/) [Motivational](https://sms4smile.com/quotes/about/motivational/) [Motivational quotes](https://sms4smile.com/quotes/about/motivational-quotes/) [Trust](https://sms4smile.com/quotes/about/trust/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [“To balance the balance sheet of life, concentrate on your assets of positivity while managing your liabilities of negativities.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/to-balance-the-balance-sheet-of-life-concentrate-on-your-assets-of/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [“Every balance sheet tells a story that I love to read. I am a Chartered Accountant.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/every-balance-sheet-tells-a-story-that-i-love-to-read-i-am-a/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [“You may wish to spend a moment thinking about whether this person is an asset or a liability to your company”](https://sms4smile.com/quotes/g-r-reader/you-may-wish-to-spend-a-moment-thinking-about-whether-this-person-is/) [G.R. Reader](https://sms4smile.com/quotes/author/g-r-reader/) > [“Rule One. You must know the difference between an asset and a liability, and buy assets.”](https://sms4smile.com/quotes/robert-t-kiyosaki/rule-one-you-must-know-the-difference-between-an-asset-and-a/) [Robert T. Kiyosaki](https://sms4smile.com/quotes/author/robert-t-kiyosaki/) > [“Take what you get, and make the best of it. Make it an asset not a liability”](https://sms4smile.com/quotes/haven-angel/take-what-you-get-and-make-the-best-of-it-make-it-an-asset-not-a/) [Haven Angel](https://sms4smile.com/quotes/author/haven-angel/) > [Rule One. You must know the difference between an asset and a liability, and buy assets. An asset is something that puts money in…](https://sms4smile.com/quotes/robert-kiyosaki/rule-one-you-must-know-the-difference-between-an-asset-and-a-3/) [Robert Kiyosaki](https://sms4smile.com/quotes/author/robert-kiyosaki/) > [I feel that as long as I'm an asset and not a liability I'm still loving the game as much as I ever have.](https://sms4smile.com/quotes/adam-vinatieri/i-feel-that-as-long-as-i-m-an-asset-and-not-a-liability-i-m-still/) [Adam Vinatieri](https://sms4smile.com/quotes/author/adam-vinatieri/) > [“Rule #1: You must know the difference between an asset and a liability, and buy assets. 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The night…](https://sms4smile.com/quotes/richelle-e-goodrich/a-little-porch-light-from-a-distant-farmhouse-dimmed-feeling-alone/) [Richelle E. Goodrich](https://sms4smile.com/quotes/author/richelle-e-goodrich/) > [“...we knew that everything was more about how it appeared than how it was. The most important thing, in any circumstance, was to amount…](https://sms4smile.com/quotes/janne-teller/we-knew-that-everything-was-more-about-how-it-appeared-than-how-it/) [Janne Teller](https://sms4smile.com/quotes/author/janne-teller/) > [“He found himself thinking that maybe stories don't just make us matter to each other - maybe they're also the only way to the…](https://sms4smile.com/quotes/john-green/he-found-himself-thinking-that-maybe-stories-don-t-just-make-us/) [John Green](https://sms4smile.com/quotes/author/john-green/) > [Our fear of not mattering much has the potential to draw us away from what matters most.](https://sms4smile.com/quotes/andy-stanley/our-fear-of-not-mattering-much-has-the-potential-to-draw-us-away-from/) [Andy Stanley](https://sms4smile.com/quotes/author/andy-stanley/) > [“We each carry with us unique gifts, recognized and unrecognized. We long to harness those gifts in a way that gives life significance and…](https://sms4smile.com/quotes/tom-hayes/we-each-carry-with-us-unique-gifts-recognized-and-unrecognized-we/) [Tom Hayes](https://sms4smile.com/quotes/author/tom-hayes/) ## More by Ryan Lilly > [“I've never written a quote I feel would be suitable for my gravestone. Wouldn't it be ironic if it were this one? Oh, and…](https://sms4smile.com/quotes/ryan-lilly/i-ve-never-written-a-quote-i-feel-would-be-suitable-for-my-gravestone/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“Contributors and distributors tend to do better at personal branding than takers and fakers.”](https://sms4smile.com/quotes/ryan-lilly/contributors-and-distributors-tend-to-do-better-at-personal-branding/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“Be a pro at what you do. 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The one thing everyone else has in common is that they haven’t.”](https://sms4smile.com/quotes/ryan-lilly/the-one-thing-all-entrepreneurs-have-in-common-is-that-they-started/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“Sensible brands lend themselves to all of the senses.”](https://sms4smile.com/quotes/ryan-lilly/sensible-brands-lend-themselves-to-all-of-the-senses/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“You can't force creatives into a box. If you try, they'll no longer be creative. And no one will want your box.”](https://sms4smile.com/quotes/ryan-lilly/you-can-t-force-creatives-into-a-box-if-you-try-they-ll-no-longer-be/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“Those without passion are often passed and shunned.”](https://sms4smile.com/quotes/ryan-lilly/those-without-passion-are-often-passed-and-shunned/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“Jarod Kintz gets so many retweets, he’s like Katniss Everdeen with tourettes in a forest full of Mockingjays.”](https://sms4smile.com/quotes/ryan-lilly/jarod-kintz-gets-so-many-retweets-he-s-like-katniss-everdeen-with/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“Yesterday is a pile of rubble. Today is a pile of opportunity. Life takes a new dump each morning”](https://sms4smile.com/quotes/ryan-lilly/yesterday-is-a-pile-of-rubble-today-is-a-pile-of-opportunity-life/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) > [“I like to go to Starbucks and watch the intellectuals. I observe them and their intellectualness. They in turn observe me drinking coffee and…](https://sms4smile.com/quotes/ryan-lilly/i-like-to-go-to-starbucks-and-watch-the-intellectuals-i-observe-them/) [Ryan Lilly](https://sms4smile.com/quotes/author/ryan-lilly/) [Explore all 74 Ryan Lilly quotes ](https://sms4smile.com/quotes/author/ryan-lilly/) ## More Accounting quotes > [We do not know enough about how the present will lead into the future. We shall never be able to say, "Ha! My perception,…](https://sms4smile.com/quotes/gregory-bateson/we-do-not-know-enough-about-how-the-present-will-lead-into-the-future/) [Gregory Bateson](https://sms4smile.com/quotes/author/gregory-bateson/) > [“Outer happiness has Diminishing Marginal Utility; the more it grows, the satisfaction decreases. Resort to inner happiness.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/outer-happiness-has-diminishing-marginal-utility-the-more-it-grows/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [Regulations for international accounting and funding will have to be examined to identify policies that inadvertently discourage institutional investors from putting their resources into…](https://sms4smile.com/quotes/jose-angel-gurria/regulations-for-international-accounting-and-funding-will-have-to-be/) [Jose Angel Gurria](https://sms4smile.com/quotes/author/jose-angel-gurria/) > [There is no business like show business. There is also no business like certified public accounting, but that doesn't rhyme as well.](https://sms4smile.com/quotes/craig-shaw-gardner/there-is-no-business-like-show-business-there-is-also-no-business/) [Craig Shaw Gardner](https://sms4smile.com/quotes/author/craig-shaw-gardner/) > [“With great goals, comes the high costs; both fixed and variable. Time is the fixed cost; efforts, variable. Spend passionately.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/with-great-goals-comes-the-high-costs-both-fixed-and-variable-time-is/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Financial statements are my novels, I am a Chartered Accountant.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/financial-statements-are-my-novels-i-am-a-chartered-accountant/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [The religious hypothesis, therefore, must be considered only as a particular method of accounting for the visible phenomena of the universe: but no just…](https://sms4smile.com/quotes/david-hume/the-religious-hypothesis-therefore-must-be-considered-only-as-a/) [David Hume](https://sms4smile.com/quotes/author/david-hume/) > [Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that…](https://sms4smile.com/quotes/warren-buffett/accounting-consequences-do-not-influence-our-operating-or-capital/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [By their victory, the 3rd, 4th and 5th Marine Divisions and other units of the Fifth Amphibious Corps have made an accounting to their…](https://sms4smile.com/quotes/chester-w-nimitz/by-their-victory-the-3rd-4th-and-5th-marine-divisions-and-other-units/) [Chester W. Nimitz](https://sms4smile.com/quotes/author/chester-w-nimitz/) > [“Invest in self-improvement, be it for learning, be it for earning.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/invest-in-self-improvement-be-it-for-learning-be-it-for-earning/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) > [“In the race to scale a startup, overlooking financial planning is like to building a skyscraper on shaky ground. True growth stems from decisions…](https://sms4smile.com/quotes/jason-hishmeh/in-the-race-to-scale-a-startup-overlooking-financial-planning-is-like/) [Jason Hishmeh](https://sms4smile.com/quotes/author/jason-hishmeh/) > [One of the things that we're missing from our political dialogue right now is the idea that the United States is a home. It…](https://sms4smile.com/quotes/stephen-miller/one-of-the-things-that-we-re-missing-from-our-political-dialogue/) [Stephen Miller](https://sms4smile.com/quotes/author/stephen-miller/) > [There's no business like show business, but there are several businesses like accounting.](https://sms4smile.com/quotes/david-letterman/there-s-no-business-like-show-business-but-there-are-several/) [David Letterman](https://sms4smile.com/quotes/author/david-letterman/) > [“Debit the knowledge; credit the books.”](https://sms4smile.com/quotes/vikrmn-ca-vikram-verma/debit-the-knowledge-credit-the-books/) [Vikrmn: CA Vikram Verma](https://sms4smile.com/quotes/author/vikrmn-ca-vikram-verma/) [Browse all 352 Accounting quotes ](https://sms4smile.com/quotes/about/accounting/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“Legacy accounting: Will you have been an asset or a liability on the world's balance sheet?”", "creator": { "@type": "Person", "name": "Ryan Lilly" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/ryan-lilly/legacy-accounting-will-you-have-been-an-asset-or-a-liability-on-the/", "about": { "@type": "Thing", "name": "Accounting" }, "@id": "https://sms4smile.com/quotes/ryan-lilly/legacy-accounting-will-you-have-been-an-asset-or-a-liability-on-the/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg", "contentUrl": "https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg", "url": "https://sms4smile.com/quotes/i/a0c/ryan-lilly-9302_accounting_legacy-accounting-will-you-have-been-an_2849053.jpg", "width": 1080, "height": 1080, "caption": "“Legacy accounting: Will you have been an asset or a liability on the world's balance sheet?” — Ryan Lilly", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Ryan Lilly", "item": "https://sms4smile.com/quotes/author/ryan-lilly/" }, { "@type": "ListItem", "position": 4, "name": "“Legacy accounting: Will you have been...", "item": "https://sms4smile.com/quotes/ryan-lilly/legacy-accounting-will-you-have-been-an-asset-or-a-liability-on-the/" } ], "@id": "https://sms4smile.com/quotes/ryan-lilly/legacy-accounting-will-you-have-been-an-asset-or-a-liability-on-the/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```