Interesting Accounting Quotes to Keep By Your Desk
From Warren Buffets to Charlie Munger, here are the interesting accounting quotes from big investors and financial experts of our time.
Wikipedia defines accounting or accountancy as “the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.”
Simply put, accounting is the documentation or recording of financial transactions related to a business. It is an important business practice that lets business know how much money they’re making, where it’s coming from and where it’s being spent on. This helps them make important financial decisions.
Read on these interesting accounting quotes and sayings to develop a new outlook towards accounting.
Accounting Ensures Transparency in Earnings…
“Accounting does not make corporate earnings or balance sheets more volatile. Accounting just increases the transparency of volatility in earnings.” Diane Garnick
For Mr. Buffett, It’s an Imperfect Business Language
“You have to understand accounting and you have to understand the nuances of accounting. It’s the language of business and it’s an imperfect language, but unless you are willing to put in the effort to learn accounting — how to read and interpret financial statements — you really shouldn’t select stocks yourself.” Warren Buffett
Also Read: How to positively Feedback Employees
There is also a Saying on Accounting Fraud…
“Creative accounting is an absolute curse to a civilization. One could argue that double-entry bookkeeping was one of history’s great advances. Using accounting for fraud and folly is a disgrace. In a democracy, it often takes a scandal to trigger reform. Enron was the most obvious example of a business culture gone wrong in a long, long time.” Charlie Munger
Know Your Numbers…
“Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.” Tilman J. Fertitta
Accounting is Also One of the Key Cardinal Rules Set by Auden
“There are three cardinal rules — don’t take somebody else’s boyfriend unless you’ve been specifically invited to do so, don’t take a drink without being asked, and keep a scrupulous accounting in financial matters.” W. H. Auden
