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/
@pmarca I'll say. Definition gets way more complicated when the entrepreneur isn't the only target audience for the financial statements.
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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. -
@pmarca lots of people talk about burn rate but many can't read a Cash Flow Statement. It would help. And easy to generate w/Quickbooks/Xero
End of conversation
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