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Sweatshop Accounting

Sweatshop Accounting

My students are learning what our accounting textbook calls "the language of business." As they gain fluency, they start talking about debits and credits, business transactions, and financial reports. It's a cross-cultural language spoken by business people worldwide. The key word in this language is "profit."

"When we format a company's income statement, where do we report net profit?" I ask the class.

After some near-miss answers, Mei Li says, "It goes on the bottom line."

"Right. And what is the bottom line?" I ask her.

"It's total sales minus total expenses," she answers.

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