Author Archive | david lightfoot

GAAP Gone Wild!

Most readers of mine will know that GAAP stands for Generally Accepted Accounting Principles. The term is a bit of a misnomer as they aren’t necessarily “Generally Accepted” until the are prescribed by the Financial Accounting Standards Board of FASB. These rules, GAAP, are required for those companies that are being audited by American CPAs. […]

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Book Review: Superagency

Reid Hoffman, the author, was a supporter of OpenAI when it began as a non-profit organization in 2015. Before that he was a founding board member of PayPal, a founder of LinkedIn, and has been on the board of Microsoft since 2017. He defines Superagency this way: Superagency is the state of widespread empowerment that […]

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15th Anniversary

Today (January 14, 2025) marks the 15th anniversary of starting my consulting practice. On January 14, 2010, I started with B2B CFO. In October 2015 I went on my own and that has made all the difference. Why am I still working? There are several reasons below. I Work For Myself Working for myself and […]

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Book Review: Atomic Habits

What better book to review than James Clear’s Atomic Habits when we’re starting a new year and making resolutions we will almost certainly not keep? Maybe we can be more successful with the guidance of the author and his book. This book has almost become a standard in business literature, as it should be. It […]

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Book Review: How Safe is Safe Enough?

Philip Koopman, Ph.D., is a professor at Carnegie Mellon University and an expert in the field of autonomous vehicles. The subtitle of his book is Measuring and Predicting Autonomous Vehicle Safety. I started reading this book with questions. After reading the wonderful book Autonomy by Lawrence Burns several years ago, which promised a new world […]

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Macy’s $154 Million Mistake

Yesterday morning, the New York Times reported that, “Macy’s Discovers Employee Hid Millions in Delivery Expenses.”  The article leads with this: “Macy’s said Monday that an employee had misstated up to $154 million in delivery expense over the past few years, forcing the retailer to delay a much-anticipated earnings report that Wall Street uses to […]

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BOI Reporting Requirements

With the passage of October 15th, you probably thought you were done with tax reporting. Actually, you are. But there is a new report due for the first time this year called the Beneficial Ownership Information Report. This is not a tax report, and it is not filed with the IRS. Instead, it is filed […]

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Is Recession Coming?

Is a recession coming? I don’t know and I don’t think anybody else does either. That doesn’t stop people from predicting an imminent recession, or at least whining a lot. I’m not going to predict a recession is coming, because I don’t know, and because I’m tired of hearing about it. Plus, I’ve already predicted […]

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Book Review: Poor Charlie’s Almanack

With thousands of others, I share admiration for Warren Buffet and Charlie Munger for what they built at Berkshire Hathaway, their commonsense approach to investing, and not the least, to the way they have lived their lives. Warren Buffet has always been the main public-facing persona of Berkshire, with Charlie Munger saying much less at […]

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