Musing #2: One of the books I’m reading now is Financial Statements, by Thomas R. Ittelson. [Yea, I know you’re thinking, ‘that’s beach reading!?!’ Yes, and it’s a really well written book.] In the preface he writes:
“Watch where the money flows; watch where goods and services flow. Documenting these movements of cash and product is all that financial statement do. It is no more complicated than that. Everything else is details.