Posted on 26/04/08
Banks and the dot-com crash? They may have more in common than you think
Accounting was invented by a Franciscan monk in the 15th century, but its First Rule - called "matching" - is still good today. It says that to compute true profit, you must match revenues with all costs that gave rise to these revenues. If you neglect even some costs, intentionally or otherwise, the resulting "profit" is incorrect, and may even be imaginary.
The full text of this article has 898 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
