ManagementSpeak: We’re making these changes so our program is more competitive.

Translation: Our program is far superior to those of our competitors, which means we’re spending too much. We need to lower our standards.

KJR Club member Dave Liesse’s linguistic standards are, however, impeccable.

Imagine Pacioli took a different tack.

You remember Pacioli. Italian guy. A friar. Invented modern accounting five centuries ago, give or take a few years. Ring a bell?

We still keep the books the Pacioli way. It’s why, when you buy a computer, you credit cash and debit tangible assets but when you train an employee you credit cash and debit training expenses.

Computers appear on the balance sheet. Employees don’t. Their skills, knowledge, judgment, loyalty and drive don’t appear as balance sheet assets.

Imagine they did