Our two traveling accountants, Bob Bean and Bill Counter, were recently on assignment in
Mongolia. They report that the old-guard accounting staff can't stand to write off anything —
fear of being shot for mismanagement — so creative accounting is used:
Current receivables are for goods delivered but not paid for during the past decade.
Missing inventory becomes a receivables from unknown persons.
Receivables from defunct companies and murdered Russian mafia members stay on the
books for sentimental reasons.
Interesting stuff, right?
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