alt Hacker NewsThat is an absurd cadence. It is extremely expensive to do this reporting; an an enormous amount of useless activity is slaved to providing it in companies that need to. This is literally a call for more bureaucracy theater.
The obvious net effect is that companies would structure themselves to no longer have the reporting requirement, as the cost of reporting exceeds the benefits. That would not benefit society at large.
Replies
strogonoff • today at 6:35 AM
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gzread • today at 4:27 AM
That was the point - it's absurd as a manual process, and forces automation.
joquarky • today at 5:16 AM
> an an enormous amount of useless activity is slaved to providing it in companies that need to
Curious why the word "slaved" was used here instead of the much more nominal "employed".
The reason quarters take so long to close is because the numbers are being fiddled with. There's no reason someone shouldn't be able to close a quarter and report the numbers with the automation we have today in technology, meaning without some magic AI/LLM, other than people are constantly trying to reclassify expenses or income in a way that saves the quarter
Why, after 30-40 years of modern computing in accounting does it still take a month to close the books? I worked at a public company that was $100m revenue yearly and it took a whole month to close the books. Absolute insanity. Even AT&T or Verizon or GM should be able to report at least weekly.