Accounting Quote by Colby Mitchell Chester
“The American business man cannot consider his work done when he views the income balance in black at the end of an accounting period. It is necessary for him to trace the social incidence of the figures that appear in his statement and prove to the general public that his management has not only been profitable in the accounting sense but salutary in terms of popular benefits.”
About This Quote
Source Book: Business Ethics and Social Responsibility, 1935
A businessman should look beyond profit and assess how his company's earnings affect society and benefit the public.
In simple terms: Profit isn’t enough; consider social impact.
Key Takeaway
Measure and communicate societal benefits.
Themes
ethics
social responsibility
accounting
leadership
Mood
thoughtful
analytical
Type
reflective
inspirational
When to use this quote
- annual reports
- corporate social responsibility initiatives
- public disclosures
- community investment decisions
Key Concepts
stakeholder theory
corporate citizenship
public accountability
Questions to Reflect On
- How do you evaluate social impact?
- What metrics reveal true societal benefit?
A Different Perspective
Balancing profit and social good can be financially challenging.
