@pmarca I'll say. Definition gets way more complicated when the entrepreneur isn't the only target audience for the financial statements.
Accounting = art of using limited data to come close to an accurate description of how a company is performing. https://www.amazon.com/dp/1422119157/
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@pmarca ps. book is a good primer for startup founders. Isn't accounting-heavy, explains P&L, Balance Sheet, & Cash Flow Statement. - 1 more reply
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