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Thursday, April 09, 2009

MooPig's Historical Business Perspectives: Creative Accounting

INvitation to Graft
by PD and the un-Herds

Business in general has gone through some really bad evolutions. The worst we at "MooPig Business College" have witnessed is in business accounting. Accounting has been more creative, than useful, for about fifty years.

In the "Back When Days" there were payable's and receivables, a simple system for Mom2Pop Businesses: the old In or Out. At the end of each day we count up the receipts, and that helps us prepare for tomorrow.

As we all began to settle in with simple business language, it became the tax thing of liabilities and assets. That became the fall guy wording, so now it is not just two things but
three categories ...

Just lately a complement of creative C-Class forces has added something to our day: Liabilities, Toxic Assets, and Assets. Now are we looking at the back side of the Bull?

Lord knows that I will be selling a property for what I have in it -- if I can no longer pay for it. Why is this property going to be called "Toxic?" Is it a WMD?

Quote of the Moment [SOURCE]
"...elite business interests—financiers, in the case of the U.S.—played a central role in creating the crisis, making ever-larger gambles, with the implicit backing of the government, until the inevitable collapse. More alarming, they are now using their influence to prevent precisely the sorts of reforms that are needed, and fast, to pull the economy out of its nosedive. The government seems helpless, or unwilling, to act against them." --economist Simon Johnson in The Atlantic.

We think nothing has prepared us for current Government in the mix as our taxing branch and as our prime debtor, business accounting model. Isn't that an invitation to graft, guilty just by associations?

"I certainly would find another line of business if I were CFO in a large bankrupt Corporation today," said MooPig Chief Finance Officer, Chuck Love.

Good thing for us MooPig Enterprises, aka Marmart, is still just a Mom2Pop value added retailer. Will you stick with us Chuckie, through our IN's and OUT's?

REfer also to: Banks Defrauding the Public? Huh? HERE

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