Accounting Practices Quotes

I think that, every time you saw the word EBITDA, you should substitute the word "bullshit" earnings.

Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.

Normally, banks record profits on loans only as they are repaid, whether they securitize the loans or hold them on their books.

Lots of businesses built in the early 1990s were not very transparent, not only by Russians, but also by foreigners.

Companies figured out that the easiest way to make money was to reissue records that the accounting department had paid for years ago and already made a profit.

I come from a family of working professionals: my dad is a chartered accountant, and my mom is a professor.

Traditionally, sport has looked down at number crunchers, but the reality is that they give sport the financial sustenance it needs.

The reaction of weak management to weak operations is often weak accounting.

There is nothing wrong with good accounting, except that it does not necessarily lead to good science.

Bar owners tend to be social rather than operators. Most bar owners do not manage their numbers. They do not have spreadsheets or reports to manage their budget, cost, or inventory. I would say 90% of independent bar owners do not even have a budget.

I always assign auditors to strictly supervise the businesses.

AOL had a very strong motive to create the appearance of high revenues for PurchasePro because the value of the warrants AOL had received in the deal depended on PurchasePro's performance.

Most accountants will tell you the majority of small businesses run as an S Corporation.

Just as black anger often proved counterproductive, so have these white resentments distracted attention from the real culprits of the middle class squeeze - a corporate culture rife with inside dealing, questionable accounting practices, and short-term greed.

Virtually all Federal accounting is still oriented toward preventing fraud and theft, not toward controlling costs.

Aggressive accounting does not mean illegal accounting.

I would argue that a majority of the horrors we face would not have happened if the accounting profession developed and enforced better accounting.

The first aspect of a business that you need to make it work well is money. Once the money aspect is flowing, you can freely work on other aspects.

Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.

I understand quarterly billing, how the record companies run.

Professional accountants should use that influence to encourage the companies they serve to think long term and integrate sustainable development goals into their accounting, such as by including a natural capital account, which I have heard is gaining ground.

In the case of Enron, we balance our positions all the time.

Scientology 1970 is being planned on a religious organization basis throughout the world. This will not upset in any way the usual activities of any organization. It is entirely a matter for accountants and solicitors.

When you're a business man, you have a lot of businesses, a lot of times they think you're laundering money or you're pretending you're writing things off that you don't.

No business is good when, on the last day of the month, you're like, 'What was the usage for the month?'