EditorialsBy Matt Bud, Chairman, The FENG

Just give me the middle line

From our daily member newsletter on March 1, 2020

According to Google, double entry accounting was developed around 1300AD. Shortly thereafter, someone came up with the expression: “Just give me the bottom line.” No one ever talks about the middle line. I have often wondered about that. Haven’t you? I don’t know about you, but as good accountants and Chief Financial Officers I thought our goal was to prepare comparable financial statements. Documents that not only were accurate and reflective of the organizations we were helping run, but also consistent in format month after month so that our “customers,” all of those non-financial types, would know where to look for the information they required. (I know I prided myself on those year after year matching binders with matching tabs.) [ Read more… ]

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