Accounting Terms

AccountingTerms

I don’t know much about accounting, but I know enough to understand the basics. It’s debits on the left and credits on the right. I also know a little about assets and liabilities.  Assets are items that benefit you, such as equipment or real estate. Liabilities are what you owe to other parties, such as mortgages or taxes. In one way or another all of these terms are either a gain or a loss.

When Paul describes his righteous standing before God, he employs accounting terms. He says that some things are gains and some things are losses. How he categorizes them may surprise you. He says that all of his religious achievements are losses. He says that his only gains are everything that Jesus supplies.

But whatever gain I had, I counted as loss for the sake of Christ. Indeed, I count everything as loss because of the surpassing worth of knowing Christ Jesus my Lord. For his sake I have suffered the loss of all things and count them as rubbish, in order that I may gain Christ and be found in him, not having a righteousness of my own that comes from the law, but that which comes through faith in Christ, the righteousness from God that depends on faith (Philippians 3:7-9).

This is what makes salvation so glorious! Our religious deeds don’t merit anything. They can actually be liabilities if we trust in them. The work of Christ is everything. It’s the work of Christ that merits everything for us. We simply need to believe.

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