Category: Accounting
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Accounting: The subjectivity of hard numbers
When people hear “accounting,” they often picture dull number-crunching or meticulous cash counting. But accounting is far from the boring, mechanical process many assume. Beneath the surface of matching the debits and credits lies a fascinating world of interpretation, judgement, and subjectivity. At its core, accounting is using numbers to tell a story about the…
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On ESG: Stakeholder theory and why it is flawed
Friedman’s Shareholder Theory Milton Friedman’s Shareholder Theory asserts that the primary responsibility of a business is to maximise profits for its shareholders. Friedman argued that businesses are essentially tools of their owners (the shareholders) and should focus exclusively on generating the highest possible returns, provided they operate within the bounds of law and ethical norms.…