Re:Fantasy Math Is Helping Companies Spin Losses into Profits
by Spooky23 on Monday April 25, 2016 @06:16PM
(#11567831)
I don't know what an accounting post-modernist is, but I do know that a consistent approach to keeping the books makes it possible to evaluate the positions of companies meaningfuly.
Companies as varied as Bank of America, Groupon, and Kinder Morgan all find creative and fascinating ways to assert that their bullshit financial metrics are more meaningful than GAAP.
Generally speaking, companies that aren't a shitshow and are actually making money don't bother cooking up new accounting schemes. Their CFOs focus on counting the profits, not heating air.
Companies as varied as Bank of America, Groupon, and Kinder Morgan all find creative and fascinating ways to assert that their bullshit financial metrics are more meaningful than GAAP.
Generally speaking, companies that aren't a shitshow and are actually making money don't bother cooking up new accounting schemes. Their CFOs focus on counting the profits, not heating air.