3 ms·

Do you know the current Kongbuck exchange rate, by chance? Jokes aside, leaving the accounting to the market seems ripe for fraud. Finance is staid, but it's g

• Prrometheus 18y ago
  >Jokes aside, leaving the accounting to the market seems ripe for fraud. Finance is staid, but it's got a lot of years of experience behind it. Where do you think accounting rules come from? Accounting practice comes from hundreds of years of custom and precedent, also known as "the market". It is only recently that accounting standards have been codified into law.