Month: October 2022

I didn’t know it was possible to ‘ding’ financial results until I read the Wall Street Journal: “Companies use LIFO to lower their taxable income. But to do so, they also must use it for financial accounting, even though it can ding financial results.” [1] This sentence certainly has a ring to it. Not knowing…

Accountants don’t use the word plant in the sense of a flower or a bush. They use it in the phrase property, plant and equipment. There is even a standard IAS 16, International Accounting Standard 16 Property, Plant and Equipment to explain what it is all about. Plant for an accountant is a generic word for, for…