Manish Jain > Manish's Quotes

“Although while speaking and writing many of us use the words expense and expenditure interchangeably, in accounting they have separate meanings. Expenditure refers to spending, or the outflow of money. We have seen that when money is spent, we either incur an expense or we create an asset.
This makes expenditure broader in scope than expense.
Expenditure encompasses both expenses and assets.
If you thought I had made a loss you probably calculated Profit as Income minus Expenditure instead of Income minus Expense!”
― Anil Lamba, Romancing The Balance Sheet

“The money received has to be separated into Income and Liability. Money spent must be separated into Expense and Asset. And Income less Expense will give us profit.”
― Anil Lamba, Romancing The Balance Sheet

“Remember: nothing should appear as an expense unless it satisfies the test of consumption.”
― Anil Lamba, Romancing The Balance Sheet

“Depreciation, which appears as an expense on the Profit & Loss Account, is the consumed portion of an expenditure.”
― Anil Lamba, Romancing The Balance Sheet

“Never confuse money with profit!
This is yet another common misconception.
Profit and Money are two entirely different things.
It is certainly possible for a firm to make huge profit and have no money. It is equally possible that it is flush with funds but is suffering losses.”
― Anil Lamba, Romancing The Balance Sheet

“the objective of running a business enterprise to generate profit. But, since profit does not automatically mean money, an equal amount of attention must also be paid to the generation of cash. There is no point in making profit if, at the end of the month, there is no money to pay salaries. Only half the battle has been won when you are able to make profit for your business. The other half will be won if you are also able to generate cash.”
― Anil Lamba, Romancing The Balance Sheet

“A Balance Sheet is a static document.
On the other hand, a Funds-Flow Statement spans a period of time.”
― Anil Lamba, Romancing The Balance Sheet

“stock taking is the measurement of what is not consumed”
― Anil Lamba, Romancing The Balance Sheet

“It follows, therefore, that the greater the credibility that a firm enjoys, the lower would be its net working capital requirement.”
― Anil Lamba, Romancing The Balance Sheet

“Successful businesses, therefore, stand on two pillars. Pillar number one: the ability to generate profit. Pillar number two: the ability to effectively manage cash flow.”
― Anil Lamba, Romancing The Balance Sheet

“Organizations must understand that incomes are sporadic while expenses are continuous.”
― Anil Lamba, Romancing The Balance Sheet

“Never invest your money without ensuring that the assets you acquire can generate a return which is at least equal to the cost of your capital.”
― Anil Lamba, Romancing The Balance Sheet

“Invest your money in such a way that the assets will generate an inflow of funds before the liabilities demand an outflow.”
― Anil Lamba, Romancing The Balance Sheet

“Contribution is called Contribution because it is the contribution of each unit sold towards the organization’s bottom line.”
― Anil Lamba, Romancing The Balance Sheet

“Be yourself; everyone else is already taken.”
― Oscar Wilde

“I'm selfish, impatient and a little insecure. I make mistakes, I am out of control and at times hard to handle. But if you can't handle me at my worst, then you sure as hell don't deserve me at my best.”
― Marilyn Monroe

“So many books, so little time.”
― Frank Zappa

“Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind.”
― Bernard M. Baruch

“You've gotta dance like there's nobody watching,
Love like you'll never be hurt,
Sing like there's nobody listening,
And live like it's heaven on earth.”
― William W. Purkey

“You know you're in love when you can't fall asleep because reality is finally better than your dreams.”
― Dr. Seuss

“You only live once, but if you do it right, once is enough.”
― Mae West

“Be the change that you wish to see in the world.”
― Mahatma Gandhi

“If you want to know what a man's like, take a good look at how he treats his inferiors, not his equals.”
― J.K. Rowling, Harry Potter and the Goblet of Fire

“If you tell the truth, you don't have to remember anything.”
― Mark Twain

“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
― Maya Angelou

“Always forgive your enemies; nothing annoys them so much.”
― Oscar Wilde

“Live as if you were to die tomorrow. Learn as if you were to live forever.”
― Mahatma Gandhi

“Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They're not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can't do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.”
― Steve Jobs

“According to George Soros, what’s important is not whether you’re right or wrong about the market. What’s important is how much money you make when you’re right about a trade, and how much money you lose when you’re wrong.”
― Mark Tier, The Winning Investment Habits of Warren Buffett & George Soros: Harness the Investment Genius of the World's Richest Investors

“An investment philosophy is a set of beliefs about: the nature of investment reality: how markets work, why prices move; a theory of value, including how value can be identified, and what causes profits and losses; and the nature of a good investment.”
― Mark Tier, The Winning Investment Habits of Warren Buffett & George Soros: Harness the Investment Genius of the World's Richest Investors