$24
Professional Accounting allows for a myriad of approaches to reporting and the resulting vaguaries seem to blur the distinction between fact and fiction.
For example, though the U.S. GNP or GDP reflects some "facts" it leaves other, very relevant facts out of the equation or algorithm, such as the cost of disposing of the waste products of our production. This was pointed out to me by a elderly professor of economics, Dr. Zubrow, when he was in his eighties and teaching at Univ of Colorado, Boulder.
There are many other examples of faux accounting of course.
Ultimately, the system depends on each individual taking personal responsibility for reporting the facts most relevant to the whole.
That requires evolution and evolution seems like a very slow process.
In the meantime, the EC should threaten the deviants with jail time!
imho
eom
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