Investing Humor
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Investing Humor This made me laugh:
That sentence summarizes all that is wrong with the accounting industry... Scott Renville
As a CPA I disagree - The accounting results are consistent, comparable and reliable. The problem is how accounting results are "packaged" for Wall Street. That sentence summarizes all that is wrong with an emphasis on beating quarterly expectations. While you will never see EBITDA on a financial statement, it appears all the time in investor relations materials. Charlie Munger said it best "I think that every time you see the word EBITDA you should substitute the words b***s*** earnings." Personally, I believe that applies to any non-GAAP financial measurement. Mark Eckman
Mark Eckman |
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