When Tracking Projects, Ignore Your Accountants

Harvard Business Review

They're just following what's known as Generally Accepted Accounting Principles, or GAAP. But GAAP is exactly where the trouble lies. According to GAAP we are now 50% complete, because we have spent 50% of our budget. The GAAP financial report will recognize half the revenue on the project, or $2.5 That's why we don't use GAAP to run our projects. We do, of course, compile our company's financial statements according to GAAP to keep bankers and investors happy.

GAAP 17

When Tracking Projects, Ignore Your Accountants

Harvard Business Review

They're just following what's known as Generally Accepted Accounting Principles, or GAAP. But GAAP is exactly where the trouble lies. According to GAAP we are now 50% complete, because we have spent 50% of our budget. The GAAP financial report will recognize half the revenue on the project, or $2.5 That's why we don't use GAAP to run our projects. We do, of course, compile our company's financial statements according to GAAP to keep bankers and investors happy.

GAAP 12

Giving Executives 40% of Revenue is Insane

Curious Cat

Related: Toyota Post Record Profit: Splits $15 million in Pay and Bonus for top 21 Executives (2014) – Business 901 Podcast: Two New Deadly Diseases for Business (2013) – Massive Bonuses Encourage Executives to Take Massive Risks (leverage etc.).

The U.S. Corporate Tax Code Is Broken. How Should We Fix It?

Harvard Business Review

On Tuesday, Apple CEO Tim Cook testified in front of the Congressional Permanent Subcommittee on Investigations as a part of their look into the company''s corporate tax practices — according to Sen.