From 2005 thru 2015 I worked for CPA and Risk Management firms so this caught my attention for the chicanery it is. What I am referring to is baked within the Great Reset’s call for Environmental, Social, and Corporate Governance (ESG) performance metrics ( and presented in financial statement disclosures of busiThe purpose of an income statement is to show a company’s financial performance over a period. It tells the financial story of a business’s activities.nesses. measuring the Right away I see how the ESG component will completely impact the “bottom line” of a business’s operations.
The income statement, also known as profit and loss (P&L) statements, summarize all income and expenses over a given period, including the cumulative impact of revenue, gain, expense, and loss transactions. Income statements are often shared as quarterly and annual reports, showing financial trends and comparisons over time.
The purpose of an income statement is to show a company’s operational performance over a stated period of time, better known as an operating cycle. business’s activities.
The format of the income statement goes as follows:
Revenue (aka Gross Receipts/Gross Sales) – the amount of money a business takes in during a reporting period.
Cost of Goods Sold/Cost of Revenues – the direct cost of the goods or services sold to the company.
Revenues less COGS – Gross Profit generated
Operating Expenses – the amount of money spent on General and Administrative (ie Payroll, Rent, Insurance) items during a reporting period.
Gross Profit less Operating Expenses – Operating Income
Interest and Depreciation/Amortization Expense: Interest and Depr/Amor expense incurred during stated operating cycle
Net Income Available for Distribution to Shareholders before Income Taxes: Operating Income less Interest and Depr/Amor expense
Income Tax Expense: Income taxes at federal, state and local levels.
Net Income Available …before Income Taxes less Income Tax Expense: Net Income Available for Distributions/Dividends after Income Taxes Expense:
Net Income Available for Distributions/Dividends after Income Taxes Expense: THE BOTTOM LINE.
Now, the triple bottom line is coming into play with Sustainability Accounting for Agenda 2030:
As we can see, Profit, People and Planet will be driving factors in the Triple Bottom Line. The attributes for Planet and People are completely arbitrary at this point. This leaves room for special taxes based on carbon emissions, carbon footprint, social credit, internal globohomo policy – the bounds are endless.
Many in the business world are calling out the bullshit here, as Climate Action simply puts into place a socialist system which redistributes wealth from the most profitable business entities to social programs that have/will be created by the Great Reset.
The fuckery is only beginning…