Earnings Before Interest in Taxes
Informant is an Accounting Major.
[So what does that (EBIT) mean?] It basically measures a company’s profitability and its calculated as the revenue minus the expenses but it does not include taxes or interest, it’s also known as operating profit. [What’s your relationship to this, this EBIT that you speak of?] (laughter) I am an accounting major, so therefor I have to look at a company’s EBIT and occasionally have to calculate it. It’s unfortunate, really. [Where did you first hear this, was it in a class-?] Yeah it was in my accounting class, BU8380 financial accounting I do NOT recommend anyone take that class, or any other accounting class (laughter). [Will it be that you’ll type it out or see it on a document-] I’ll see it, sometimes when people are talking about it, when it does come up, sometimes it’ll come up when you’re talking about companies profitability, yeah, that’s when it’ll come up. [Is this a term that is used more exclusively by accountants, or if you’re a business major and you hear EBIT you’ll know what someone’s talking about] Business majors should know [should know?] if they payed attention in class (laughter).
-Interview with Informant
The shortening of words is a longstanding practice. Humans are lazy by nature and so as time passes they will say and do things the easiest way they can. Often the way a person says a word changes as the vowel sound becomes the one easiest to make after the previous one in a word. For example the word for is often pronounced as “fer” in modern day, where as fifty years ago no one would have pronounced it that way. “Fer” is easier to say and more convenient than the defined “for”, so that’s how its said. Accountants are no exception to this. All of the different professions also have jargon, and whereas someone who is a Dornsife students probably would have no idea what EBIT was or even what it means once the words are said, a Vertibi student, or at least one that has taken an accounting course, would. The informant voiced a general dislike of their chosen study, which gives insight into the almost mandatory or inevitable nature of folklore. Despite their deep dislike of accounting, the informant cannot help but know the terms used frequently by accountants. Minor forms of folklore are often picked up without realizing or making a conscious effort to do so. When one frequently interacts with something or some group, they are bound to pick up the relevant lore.