---
title: "11 Accounting Quotes By Warren Buffett"
description: "11 Accounting quotes by Warren Buffett. Plus more from Warren Buffett and more Accounting sayings from other authors."
image: "https://sms4smile.com/quotes/i/fe7/warren-buffett-183_accounting_the-reaction-of-weak-management-to-weak_44545.png"
---

> [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/fe7/warren-buffett-183_accounting_the-reaction-of-weak-management-to-weak_44545.png)

> [Accounting is the language of business.](https://sms4smile.com/quotes/warren-buffett/accounting-is-the-language-of-business/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/023/warren-buffett-183_accounting_accounting-is-the-language-of-business-5_511222.png)

> [Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.](https://sms4smile.com/quotes/warren-buffett/managers-and-investors-alike-must-understand-that-accounting-numbers/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/69c/warren-buffett-183_accounting_managers-and-investors-alike-must-unders_2214294.png)

> [In the long run managements stressing accounting appearance over economic substance usually achieve little of either.](https://sms4smile.com/quotes/warren-buffett/in-the-long-run-managements-stressing-accounting-appearance-over/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/313/warren-buffett-183_accounting_in-the-long-run-managements-stressing-ac_1022009.png)

> [If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever…](https://sms4smile.com/quotes/warren-buffett/if-you-look-at-the-forbes-400-they-are-paying-a-lower-rate-accounting/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/dca/warren-buffett-183_accounting_if-you-look-at-the-forbes-400-they-are-p_219091.png)

> [To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.](https://sms4smile.com/quotes/warren-buffett/to-be-successful-you-should-concentrate-on-the-world-of-companies-not/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/537/warren-buffett-183_accounting_to-be-successful-you-should-concentrate_2688000.png)

> [Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if…](https://sms4smile.com/quotes/warren-buffett/managers-thinking-about-accounting-issues-should-never-forget-one-of/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/cc7/warren-buffett-183_abraham_managers-thinking-about-accounting-issue_2484862.png)

> [Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of…](https://sms4smile.com/quotes/warren-buffett/accounting-consequences-do-not-influence-our-operating-or-capital/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/e41/warren-buffett-183_accounting_accounting-consequences-do-not-influence_63234.png)

> [ Over the years, Charlie \[Munger, Berkshire Hathaway Vice Chairman\] and I have observed many accounting-based frauds of staggering size. Few of the… ](https://sms4smile.com/quotes/warren-buffett/over-the-years-charlie-munger-berkshire-hathaway-vice-chairman-and-i/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/41f/warren-buffett-183_accounting_over-the-years-charlie-munger-berkshire_599521.jpg)

> [You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an…](https://sms4smile.com/quotes/warren-buffett/you-have-to-understand-accounting-and-you-have-to-understand-the/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/588/warren-buffett-183_accounting_you-have-to-understand-accounting-and-yo_1815159.jpg)

> [In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business…](https://sms4smile.com/quotes/warren-buffett/in-the-end-alchemy-whether-it-is-metallurgical-or-financial-fails-a/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

[Image](https://sms4smile.com/quotes/i/522/warren-buffett-183_accounting_in-the-end-alchemy-whether-it-is-metallu_2903419.jpg)

## Other authors on Accounting

## More by Warren Buffett

> [To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual…](https://sms4smile.com/quotes/warren-buffett/to-invest-successfully-over-a-lifetime-does-not-require-a/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [“Be fearful when others are greedy, and be greedy when others are fearful.”](https://sms4smile.com/quotes/warren-buffett/be-fearful-when-others-are-greedy-and-be-greedy-when-others-are/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.](https://sms4smile.com/quotes/warren-buffett/making-money-isn-t-the-backbone-of-our-guiding-purpose-it-is-the-by/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are…](https://sms4smile.com/quotes/warren-buffett/we-set-no-volume-goals-in-our-insurance-business-generally-and/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the…](https://sms4smile.com/quotes/warren-buffett/everybody-s-got-a-different-circle-of-competence-the-important-thing/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [It is better to point out your own mistakes than have somebody else do it.](https://sms4smile.com/quotes/warren-buffett/it-is-better-to-point-out-your-own-mistakes-than-have-somebody-else/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're…](https://sms4smile.com/quotes/warren-buffett/i-ve-read-about-all-the-sales-today-if-you-re-an-auto-dealer-you-re/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to…](https://sms4smile.com/quotes/warren-buffett/i-was-lucky-enough-to-be-born-in-a-time-and-place-where-society/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.](https://sms4smile.com/quotes/warren-buffett/what-you-really-want-to-do-in-investments-is-figure-out-what-s/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [I don't measure my life by the money I've made. Other people might, but certainly don't.](https://sms4smile.com/quotes/warren-buffett/i-don-t-measure-my-life-by-the-money-i-ve-made-other-people-might-but/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've…](https://sms4smile.com/quotes/warren-buffett/i-mean-the-truth-is-i-ve-never-had-it-so-good-in-terms-of-taxes-i-am/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate…](https://sms4smile.com/quotes/warren-buffett/investors-of-course-can-by-their-own-behavior-make-stock-ownership/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

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                        "text": "In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.",
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