CEOs who skip accounting basics risk catastrophic mistakes, even with a hired accountant. A company can show profit while cash actually drains away, a confusion that kills businesses. Leaders must understand the fundamentals themselves.
You're going to have and run a business. If you don't understand accounting, you're already behind the 8-ball. Can't you hire a guy that knows how to run a business? But then they still have to communicate to you. There's people that don't understand the concept of, you know, the difference between profits and cash. You know, oh, your accountant might tell you you're profitable, but your cash is going down.
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