How do we handle process failure and new knowledge as innovation processes progress? As illustrated by various historical, formalized frameworks and approaches to the innovation development process, safeguards exist at each stage gate in order to adjust for failure, modify … Continue reading
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According to Anthony and Breitner, “Intangible assets are assets that have no physical substance (other than pieces of paper) but give the entity valuable rights. Some intangible assets are prepaid expenses, notes payable, and goodwill” (2010, p. 89). Several years ago, … Continue reading
Financial officers are working at the very high, strategic, big picture level of the company, firm or organization. The underpinning of such an officer needs to begin with integrity and maintaining that integrity. I personally do not think many officers who have … Continue reading
Why We Use T-Accounts for a Visual Representation of Entries Accounting is the language of business, and therefore has implications for the larger topic of finance. What’s more, so much of the foolishness that we are attempting to unwind, deleverage, … Continue reading
Why do we use and why does our understanding accrual accounting matter? In subsequent write-ups, I will elaborate on why these details matter, but for now, the focus is on the details. Hint: it is not a love a rules … Continue reading
Expenses relate only to the income statement, expenditure does not. This is why an expense is referred to as a “temporary” account. That is, accounts on the income statement are a snapshot in time, the measurement of what happened in … Continue reading
Mark to Market is an incendiary accounting topic, mainly due to the abuses as expressed in the much noted and documented history of Enron. Even now (three years into a recovery), we are living through one of the most difficult … Continue reading
What I originally liked about accounting was the symmetry of the double entry concept. The way accounts and entries must balance appealed to a highly rational approach to business. But it still took a long time for me to … Continue reading
Recently on the Harvard Business Review, John Coleman posted an excellent article, Take Ownership of Your Actions by Taking Responsibility (help is not on the way) that addresses expectations on the part of executive leadership. I found this particularly interesting because I recently … Continue reading