I caught the bad assumption without cheating! Probably for 2 reasons: (a) accounting was required in undergrad biz school and (b) I’m the sort of freak who collects and logs my receipts. Combination of some accounting knowledge and lived experience of logging expenditures tells me that people procrastinate on logging entries and don’t time-stamp appropriately.
Anyway, I love your articles! Really interested in PM, awesome to see perspectives from the front lines :)