[bokstavkjeks]

Oh, I get what you mean now. A system like you show is essentially debits/credits, yes. For a lot of the smaller accounting systems, they actually print the GL in the format you show where negative numbers are equivalent to credit and positive to debit. As long as you use the same accounts it should be equivalent.

>p.s. Accounting standards vary. I work with startups in the US (little to no standards).

That's true. Here in Norway, all financial statements are publicly available regardless of company size, so they have to adhere to NGAAP (or IFRS if they're big enough).