Financial Statements Quotes

Accounting is the language of business.

I was, as president and chairman of the board, required by law to verify the veracity of the financial figures, the assets under management, the number of outstanding shares, et cetera.

Trust-me companies are companies whose financial results gallop ahead of their businesses, companies with seemingly perfect control over their quarterly sales and profits. Companies whose financial statements are loaded with footnotes: companies that short-sellers often attack but rarely dent.

I have some classes in accounting, but I don't know anything about accounting. I - you know, when my accountant tells me all the things he does, it's a foreign language to me.

The current crisis is not simply a market failure in which prices are not functioning properly, but a profound loss of faith in money’s capacity to tell the truth.

Publicly traded United States companies report sales and profits to investors every quarter.

I call it the Rule of Three. If you read a company's financial statements three times, and you still can't figure out how they make their money, that's usually for a reason.

You have more independent eyes scrutinizing the decision-making and financial statements of companies.

Basically, financial reporting is this sinking hole at the centre of journalism. You start by swimming around it until finally, reluctantly, you can't fight the pull anymore and you get sucked down the drain into the biz pages.

Balance sheets bore me. I suspect if figures had excited me I would have gone into the city and now be a lot wealthier.

The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.

After watching Taro reach the brink of bankruptcy, seeing their shares delisted from trading, hearing endless false promises about receiving audited financial statements, and witnessing an unchecked drain of company resources, the shareholders have clearly had enough.

There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.

I didn't have any work to do, and I had files of my personal and Guns N' Roses financial statements for the previous eight years. I wanted to learn how to read these, but I didn't trust anybody. I just got a lightbulb in my head and said, 'I want to go to school.' That began my journey, taking accountancy and business classes at Seattle.

The fact is that one of the earliest lessons I learned in business was that balance sheets and income statements are fiction, cash flow is reality.

I know that there was a public disclosure mechanism in my financial forms.

I could never have been an accountant. I got a D in math.

Mandatory auditor rotation is designed to address a potential conflict of interest between a public company and its auditor. Because an auditor is hired and paid by the public company it audits, the auditor's desire to maintain a good relationship with its client could conflict with its duty to rigorously question the client's financial statements.

I was always taught that book keeping was more relevant than book reading. The only thing worth reading was meant to be a balance sheet.

Learning how to keep track of inventory and cash flow and creating an income statement and a balance sheet are great skills to learn for managing existing businesses.

A board of directors that cannot produce reliable audited financial statements for almost seven years simply should not remain in office.

Accounting does not make corporate earnings or balance sheets more volatile. Accounting just increases the transparency of volatility in earnings.

What happens to a private company that comes out with a quarterly report and an annual report? It gives transparency. It talks of basic issues of governance and transactions with related parties.

When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

Accounting was the course that helped me more than anything.