| I hate how the blame for the decision is always heaped upon the "bean counters". Accountants have a bad enough time with the brown shoes and cheap suits jokes.
Big company accountants (I'm excluding small practices that advise smaller companies) are responsible for reporting correctly how the company has done in the past, not the future - that's one of the main reasons why I stopped doing it.
The buck stops with the CFO who will have been advised by his/her strategy department, combined with a long line of banking corporate advisors.
Alternative scapegoats are institutional investors and analysts (most of whom haven't worked a day in the industries that they are looking at) that pressure the company into doing things that might be good for the share price in the near term.
Rant over. |