Question: Billionaire investor Warren Buffett was once quoted in the Financial

Billionaire investor Warren Buffett was once quoted in the Financial Post saying, “The reaction of weak management to weak operations is often weak accounting.”

REQUIRED:
What does he mean? Provide some examples. What are the implications for financial statement users?
An accounting professor at the University of California at Berkeley was once quoted in the Wall Street Journal as saying,


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  • CreatedAugust 19, 2014
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