Accounting

Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.

— Accounting

It’s simply to say that managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.

— Accounting

Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.

— Accounting

… without idealism, politics becomes a form of accounting, a management of purely material interests.

— Accounting

The accounts of money, supplies and provisions should then be considered. The overseer should report what wine and oil has been sold, what price he got, what is on hand, and what remains for sale. Security should be taken for such accounts as ought to be secured. All other unsettled matters should be agreed upon. If any thing is needed for the coming year, it should be bought; every thing which is not needed should be sold. Whatever there is for lease should be leased.

— Accounting

Accounting reveals the state of the business. It is a kind of thermometer of its condition and its health. One must consult it continually. Every employee in the enterprise, from the lowest up to the Director, must know the results for that part of the service for which he is responsible.

— Accounting

The problem is not that this optimistic view is wrong. By economic accounting, the optimistic view is mostly right.

— Accounting

There are only two things as complicated as insurance accounting and I have no idea what they are.

— Accounting