By msdodger on May 22, 2008
The text book definition of “sunk costs” reads something like this: Sunk Costs: Costs that were incurred in the past that cannot be recovered and thus are irrelevant for decision making. Well most costs are incurred in the past so that part of the definition is not all that helpful. More central is the idea [...]
Posted in Develop Your Skill
By msdodger on March 25, 2008
The following item was reported in a recent American Institute of Certified Public Accountants communication: “The Exempt Organizations Division of the IRS had posted on the IRS web site a controversial document setting forth the Service’s view on what constitutes good governance practices for tax-exempt entities. Included in the document was the suggestion that audit [...]
Posted in Develop Your Skill
