What is WITTB?
I read a lot. I mean a lot. About 50 or so books a year. Another 50 or so audio books. I read magazines. The top blogs on the planet (I mean cyberspace). I love devouring white papers in my industry space. I read technical journals. I even read The Book.
So why don’t I know what WITTB is?
You see, I found this term on a statement in a tax return included with a list of other expenses.
I always tie out returns to my client general ledgers. Funny, there’s no description for WITTB in the general ledger.
I died to my pride, so I quizzed three of my favorite CFO colleagues. One was a partner for RMS McGladrey. One was a stud accountant for Price Waterhouse, and another is a star in his own right. Wow, they didn’t know the answer. Sorry, I can’t share their comments as some of you might be offended (although I found their comments humerous).
Have I kept you in suspense long enough?
WITTB = what it takes to balance. I think it would be cool to see WITTB on the balance sheet of IBM for about $400 million under current assets. Think that would fly?