The importance of being precise (or inprecise)

Some parts of accounting are exact, I mean very, very precise, up to counting pens. While others part of a company’s finance are more a finger in the air, like goodwill. Why is such precision needed if it gets mixed with best guess numbers?

Choosing a certain level of granularity is one of the most critical aspects of planning.

It avoids a waste of time and energy.

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