> The liabilities may matter to investors, but that doesn't mean that they actually affect the business.
If they affect investors, they (1) effect the current owners, serving whose interests is the whole purpose of having a business, and (2) they affect the company's ability to secure financing and the terms of that financing, which affects every aspect of its business.
So, no, you're just plain wrong here.
> If I have all of my vacation days left or none, there is zero impact on the the company's business.
It has exactly the same impact on a company's business as any other debt, which is substantially more than none.
If they affect investors, they (1) effect the current owners, serving whose interests is the whole purpose of having a business, and (2) they affect the company's ability to secure financing and the terms of that financing, which affects every aspect of its business.
So, no, you're just plain wrong here.
> If I have all of my vacation days left or none, there is zero impact on the the company's business.
It has exactly the same impact on a company's business as any other debt, which is substantially more than none.