I learnt a cool accounting trick today. We had to play a game of Monopoly in class. Unfortunately, my teammate and I ended up with a cash imbalance at the end of the game. Don’t ask me how, but we did! The missing cash meant that our Balance Sheet and P&L Statement would not match. Thinking hard, we came up with a genius of a solution; stolen cash. Yep. If you ever take an accounting class in your MBA, remember that “stolen cash” as an expense item can save your butt.
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Cool!!! great tip, this will come in very handy for people like me ;-).