I had independently invented diagrams like that many decades ago. I had also made up a "matrix accounting", which uses a new accounting equation:

  <BAL|FSV> = 0

(It is assumed that <BAL| remains constant but |FSV> changes over time.)

However, I think that both the diagrams and the matrix accounting are not really practical compared with the double entry accounting, but that does not mean that they are not worth anything.