New Financial Terms
In the wake of Enron, MCI/Worldcom, and their venerable accounting firm of
Arthur Andersen, we have new definitions for some common financial terms...
EBIT
old: Earnings Before Interest and Taxes
new: Earnings Before Irregularities and Tampering
EBITDA
old: Earnings Before Interest, Taxes, Depreciation, and Amortization
new: Earnings Before I Tricked Da Auditor
NAV
old: Net Asset Value
new: Normal Andersen Value
CEO
old: Chief Executive Officer
new: Chief Embezzlement Officer
EPS
old: Earnings Per Share
new: Eventual Prison Sentence
-- from an article by Andrew Callus
