Monday, November 10, 2008

Ten laws of Accounting

1.Trial balances don’t
2.Working Capital does not
3.Liquidity tends to run out
4.Return on investments never will
5. Bottom line is only the tip of the iceberg.
6. If you need accounting to prove it, it was probably not true in the first place
7. There is nothing more permanent than a temporary account
8. An accountant is a man hired to explain that you did not make the money you did
9. Accounting is economics without assumptions
10. Obviously accounting pays, otherwise there would be no accountants.

Any more?
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