More of my IFRS adventures on Twitter, or: I don’t think I’m prepared!

It’s time now for another round-up (the last one was here) of recent tweets that made mention of IFRS in one way or another, presented here in their original form, preserving all typos and oddities and occasional obscenities. It’s rather poignant to observe how many of these seem to cite IFRS as a source of anxiety and stress, or otherwise as a source of embarrassment. One most enjoys the more “high-concept” references, for example:

  • I am also opening a new church. I do not expect to be taxed either. . Name: Holy IAS Ministries. Belief: The 17 IFRS Commandments of the Holy ACCA Meeting day & time: Mon to Frid, 9am to 5pm . Come & receive your holy blessings (Advice in IFRS). Tithe: K150,00 flat per blessing

It reminded me that I briefly flirted in the past with the notion of IFRS as a religion as well, but I never got as far as attaching a price tag. I’ve also commented a few times in the past on the multiple uses of IFRS as an acronym. This seems to be a pool that never runs dry:

  • Agree wholeheartedly with you. Women’s rights (including inheritance rights) must be protected in IFRs as well as all other FRA rights. The governance under CFR needs to be gender oriented, with greater emphasis on women’s priorities and greater control of women of governance.

I believe this refers to India’s Forest Rights Act and to the Individual Forest Rights granted under that instrument (as opposed to Community Forest Rights) – likely a rich subject for further study.

A recent tweet had something to contribute to the territory I covered last time:

  • Contingent assets, involving love, should only be capitalized, once the emotional benefits are virtually certain. All outflows, involving love, w/o any absolute assurance from the other party, of a romantic commitment, shall be expended outright.

Even that much though might be shaky under the revised conceptual framework. I mean, it defines an asset as: “a present economic resource controlled by the entity as a result of past events.” Would you like to explain to your partner how he or she falls into that category…?

Here are some more:

  • I still get anxious when I see people carrying IFRS and Auditing handbooks.It reminds me of a very dark time in my life
  • Thanks very much Sinead – baby boy born a little over 2 weeks ago! Ha, now there’s an idea…most people watch cartoons with their kids, I’ll be watching GDPR webinars and reading bedtime IFRS updates.
  • Homeboi sitting next to me in CommerceLabs just opened a fresh pack of IFRS books and just started crying I dont think I’m prepared
  • I could read out IFRS 15, word for word, and still be a less boring individual than Gary Barlow.
  • Guy opposite me at the cafe was reading his IFRS… On a public holiday… I wanted to give him a hug. Been there, done that…
  • Tshwaro uses IFRS to flirt. “You meet the relevant recognition and measurement criteria to be called a snack”. I died.
  • Send help & hobnobs
    I appear to be trapped in an IFRS discussion thread 😱
  • PC answer: Quote IFRS standards and all their interpretations (which I think are redundant – but that’s a debate for another day). Real answer: Bomb fellatios.
  • (Responding to post on uninspiring teachers) There were many in my discipline. They never provided critical assessments and analyses of things. Their typical responses were,” that’s what the Standard (IAS and IFRS) entails.” My tutors made me laugh.
  • Me: look all I’m saying is that being one of the world’s most influential countries in trade, switching from US GAAP to IFRS just makes sense Him: m’am I just need to see your Costco card before I let you in
  • Ultimately I don’t want to be half-senile in my rocking chair boring some poor care worker (or robot) to death about that time I did a really good application of an ifrs
  • *reads page 1 of IFRS 2* *gets distracted* *takes 3-hour break* *gets stressed* *eats* *blames prof for not teaching well*
  • I’m really happy I don’t study anything accounting related because I think I’d get annoyed with my crushes IFRS jokes if I understood them to those depths
  • My IFRS standards, highlighters, tabs, Ben and jerrys and the great British bake off!! My controversial Tuesday night #lifeofanaccountant
  • lowkey cheating on pwc but the papers deloitte publishes on all the IFRS standards, holy shit, i’m infatuated
  • Literally would’ve gotten 100% on that exam if I didn’t forget to look at the IFRS questions. AH!
  • My hair is more dynamic than the IFRS. Lol.
  • Someone on the accounting group chat asked us to discuss loyalty and moving on. Someone responded “Where in IFRS do we find this?”

Well, there it is. My apologies to Gary Barlow and congratulations to Deloitte. I’m off now to practice IFRS, or put another way, to continue this dark period in my life. Happy new year!

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