If you’re running multiple businesses within a single business entity or a business that generates sales by connecting with different businesses, I recommend managing the accounting for each separately. For example, if a car rental company also engages in car leasing, try to maintain distinct accounts for the rental and leasing sectors. This approach increases the chances of uncovering hidden costs or mistakes in resource allocation. In business, specific attributes necessitate this separation, leading to independent costs and improved profit structures. Neglecting this reality can result in bankruptcy without fully understanding the reasons behind it. The foundation of success is to avoid failure. - Joseph’s “just my thoughts”
On the highway, I saw a warning saying “Half of the death accidents were not wearing seat belts”. This means, “Even if you wear a seat belt, half die.” “Safety” is emphasized by saying “50% reduction in mortality when wearing seat belts”. In the former, 'probability' was noted, and in the latter, the effect of 'reduction' was emphasized. - Joseph’s “just my thoughts”