Tagged With failures

Predicting the future is near impossible -- but that doesn‘t stop us all from having a red hot go. Human beings have been predicting the future since the beginning of history and the results range from the hilarious to the downright uncanny.

One thing all future predictions have in common: they‘re rooted in our current understanding of how the world works. It‘s difficult to escape that mindset. We have no idea how technology will evolve, so our ideas are connected to the technology of today.

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In their report on the demise of Dick Smith, McGrathNicol liquidators pinpointed dubious accounting methods that are known in the industry as “real activities management”. The practices, involving manipulating sales figures and stock inventories saw Dick Smith purchasing excessive amounts of inventory in order to fill their rapid expansion of stores and bank rebates from suppliers to boost earnings.