[amitagrawal]

"Management teams of well-run companies spend very little time thinking about the formal financial statements."

Not true at all. Well run companies do spend a lot of time in preparing their financial statements. First, it is required by law, see - Dodd-Frank, Sarbanes-Oxley, etc.

Second, it can get well-run companies with good intentions into a lot of trouble with the SEC and investor lobbying groups.

[c2]

Sure, it's something the CFO thinks about, but it isn't really something that plays a factor into decisions about how to run the business for other C-level executives.