Forum Post: Demand proper accounting
Posted 13 years ago on Oct. 18, 2011, 1:57 p.m. EST by NielsH
(212)
This content is user submitted and not an official statement
I think it is completely uncontroversial to ask businesses as well as governmental organizations to properly account their financial transactions.
When looking at the past decade we see enormous amounts of money disappear through corrupt/incompetent/fraudulent book keeping.
A few examples:
Enron (goes without saying) Pentagon (September 10, 2001 Rumsfelt stated $2.3 trillion was unaccounted for) Foreclosure crisis (ownership of real estate can not be established )
Without proper accounting there can not be a good environment for making investments and without investments no new jobs will be created.
Accounting has always been the corner stone of economic activity and it's time it is being restored as a fundamental property of a well working society.
Agree with ya there, something that looks like liability should be judged as liability on paper. Account tricks by Enron had shell companies named after star wars characters to hide losses .
I guess it's not that important after all.