Comment on The House has passed the economic bailout bill 263 to 171parentComments−timr17y"if history is any indication, corporations can always cook their book if they really want to"Right. So why bother with accounting standards at all? They're just going to break the rules anyway....−newt031117yBecause accounting standards make financial reports readable by standardizing them for the audience (investors). Furthermore, accounting standards make it harder to cook the books, just never impossible.
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"if history is any indication, corporations can always cook their book if they really want to"
Right. So why bother with accounting standards at all? They're just going to break the rules anyway....
Because accounting standards make financial reports readable by standardizing them for the audience (investors). Furthermore, accounting standards make it harder to cook the books, just never impossible.