Accounting is the language of business.
Interpretation
Accounting is essential for understanding and managing business operations.
This quote by Warren Buffett highlights the critical role of accounting in the business world. By referring to accounting as the 'language of business,' Buffett emphasizes the importance of financial statements and reporting in comprehending the health and performance of a business, akin to how language enables communication and understanding between people.
In practice
This quote could be used during a business seminar to emphasize the importance of financial understanding.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
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