The following just arrived in my inbox. I thought it bore repeating here ...

To all accountants - or people who want to understand them!


Teaching Math in 1950:
A logger sells a truckload of lumber for $100.
His cost of production is 4/5 of the price.
What is his profit?

Teaching Math in 1960:
A logger sells a truckload of lumber for $100.
His cost of production is 4/5 of the price, or $80.
What is his profit?

Teaching Math in 1980:
A logger sells a truckload of lumber for $100.
His cost of production is $80 and his profit is $20.
Your assignment: Underline the number 20.

Teaching Math in 1990:
By cutting down beautiful forest trees, the logger makes $20. What do you think of this way of making a living?
Topic for class participation after answering the question: How did the forest birds and squirrels feel as the logger cut down the trees? There are no wrong answers.

Teaching Math in 2000:
A logger sells a truckload of lumber for $100.
His cost of production is $120.
How does Arthur Andersen determine that his profit margin is $60?

Rarely do I L*LOL, CapK. This time I did!!


~~~
*literally

The profit margin was $80. Arthur Andersen charged $20, so final profit was $60.
Loud sing cuckoo.

He sold it to the Fed. Govt. and it really only cost him $3.56 to produce. But he gave $8000 to the Bush campaign and $5000 to the Cheney campaign. He paid Andersen $8500 to audit his books. So the result will be that he can take tax deductions for the next five years and in the end he will have a net profit of $42,723.00 on the load of lumber. This is called "tax breaks for the average American family."

BYB - Yehbut each tax break you get in $cash$ the year before you file your taxes so you missed the *potential interest earned (even though any good American would spend it)!