The financial industry is from an analytical viewpoint in a bad state, dominated by analytical silos and lack of a unified approach. Only up to a few decades ago, financial analysis was roughly synonymous with bookkeeping. Early bookkeeping systems were single‐entry systems whose purpose was generally to keep records of transactions and of cash. The focus of such systems was realized cash flows and consequently there was no real notion of assets, liability, expense and revenue except in memorandum form. The evolution of the position of cash flow within the system should be noticed with interest. The rise of modern finance was partially due to the natural evolution of science. Modern finance got the upper hand because it had the power to explain risk – an important question that demanded an immediate solution.