“GE Brings Good Things to Life,” But Not to Accounting
General Electric's 2013 earnings per share (EPS) from continuing operations came at $1.47, compared with $1.38 and $1.23 for 2012 and 2011, respectively. Don't you marvel at the exactitude of accounting? Computing the earnings of a worldwide company with 307,000 employees and annual revenues of $146 billion to the last penny? EPS of $1.47, not $1.46, or $1.48. No uncertainty (“around $1.50”), or range (“between $1.40 and $1.50”). Exact and incontrovertible measurement of business performance. No wonder the accounting system has endured for so long; where in life will you find such resoluteness and reliability?
But scratch the shining surface a bit and you'll find that all this exactitude and definitiveness is ...
Get The End of Accounting and the Path Forward for Investors and Managers now with O’Reilly online learning.
O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.