Monday, April 07, 2014
It is not often that an event occurs in which no one looks at the ledger for how much it costs. That is apparently what is happening with the prolonged search for the missing Malaysia airplane. Countries are spending what it takes to find the craft, and no one seems to have a precise answer for the expense. It is an example of concern for humanity to shelve the checkbook while the search is underway, and it would be poor PR for a country to cease searching because it cost too much. No one wants to be in that position, so they search by air and by sea day after day. Now that pings have been heard from the depths, the searchers might be narrowing the hunt. If the plane is indeed found, the cost will mean nothing in the end.
Particularly in crisis cases you sometimes need to spend money without restraint because not doing so would mean such a negative revenue hit caused by poor reputation, that your entire company goes under. That said you should still keep a record of expenses to prevent potential fraud or other illicit use of finances, and so you have a record for tax purposes.