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Wait, why are generally accepted accounting practices nonsense? And, if so, why are they generally accepted? I don't know much about accounting, so this questio
by lsb 14y ago
Wait, why are generally accepted accounting practices nonsense? And, if so, why are they generally accepted? I don't know much about accounting, so this question is in earnest.
- fredwilson 14y agothey are generally accepted by the accounting profession. but not by investors. investors tend to focus on cash flow. at least the smart ones do.
- jpdoctor 14y ago> but not by investors. At least, those investors interested in the appearance of a viable company, as opposed to those who are interested in a bona fide profitable company.