We all know that big American companies are having their profits hurt because of the dollar’s value rising relative to the world’s other major currencies.
But what you probably don’t know is that the dollar’s strength is making the profitability of some major American companies look better than it otherwise would.
Hello? Does this make any sense? Not in the real world. But in the accounting world, it adds up beautifully across and down, as I learned from Jack Ciesielski, publisher of the Analyst’s Accounting Observer.
Allan Sloan is a columnist for The Washington Post. He is a seven-time winner of the Loeb Award, business journalism’s highest honor. View Archive