More of my IFRS adventures on Twitter, or: IFRS 16 is the Devil’s work

Once again, to welcome the arrival of summer, I’m pleased to present a selection of recent real-life tweets that made mention of IFRS in one way or another (the last batch was here), presented here in original unexpurgated form, with misspellings and oddities and not so infrequent obscenities intact. I think you’ll agree that some of these are pretty informative. For example, I learned the following:

  • The British monarch still has a ‘champion’, to fight anyone who challenges their right to the throne. Queen Elizabeth’s current champion is a 64-year-old chartered accountant.

The IFRS connection comes through the following resulting comment:

  • Good choice…. he can bore any opponent to death with IFRS

Naturally, I don’t endorse that sentiment. But I do salute the mindset that found an IFRS angle on the following:

  • What’s your opinion on living together before marriage?? Is it good?? Does it aid bonding?? Does it aid “see finish”?

Namely…

  • There is a reason why we do impact assessment before we adopting a new IFRS accounting standard.

And I’ll tell you, it’s much easier to persuade people to move in with you if you work that term ‘impact assessment’ into the proposal. On a related matter, the answer to:

  • Would you date someone in the same profession?

had to be…

  • Preferably. I make way too many ifrs jokes

I very much like this next one:

  • High Resolved & Polarclear cleaned by me in p| polarshift grounding disorders billyoutube weather of Zero Zero the last day of Programming Weather by abusing product politics and in the sense of no function no sense.The Day we have creating and open the two crossed forms of ifrs

I have no idea what it could possible mean, but I like it. This next one is certainly impressive:

  • Today I:
    -Went to work twice
    -Was offered an internship
    -Got an interview for a research assistant position
    -Accepted my MAcc admission
    -Paid rent
    -Went to a church meeting
    -Started IFRS certification
    -Planned a bachelorette party
    -Went to Trader Joe’s
    -Got tacos
    -Started a band

Who knows whether all these claims would all stand up to detailed verification, but it certainly sounds imposing. I’ll tell you though, if I was in a position to attend bachelorette parties and start a band, I’d probably be happy to forget all about IFRS. And now, all the rest:

  • Me: Here’s the financial statements. Owner: What took so long? Me: I was lost in the CA consolation. Which equity accounts get eliminated. Walked away muttering “Because I suck at my job.” #IFRS isn’t like #GAAP.
  • Go fuck urself IFRS u deprecated my life with double declining method.
  • I just read the following in a reddit comment re financial reporting: “IFRS is the european sophisticated french guy with an open mind and he is flexible in his thinking. GAAP is the american prick who has never traveled and he is not flexible in his views.
  • This hun just thumb sucked IAS36 in accounting and the lecturer asked her “Which University did you learn that from? Because I definitely dont know that part of IFRS.” She definitely aint putting her hand up again.
  • I did a whoooole module on GAAP mad IFRS and I still have no fucking clue
    what I’m looking at when reviewing balance sheets
  • J.Cole makes music for people who have memorized IFRS 15
  • IFRS 16 can go fuck itself
  • IFRS 16 is the Devil’s work.
  • So apparently i’ve studied accounting for four years in vain. Cause according to someone “just because you learn it in school doesnt mean its supposed to be
    used”. Fuck GAAP, fuck IFRS, i should have know
  • This new chick at the office did some presentation on Ifrs 9..bosses were all proud and shit with countless praises..Gave her financials and it was boo boo.. Now they are complaining.. People are hard to impress!
  • One day when I become a lecturer I’m going to put “Content Creator” on my bio. The level of creativity that goes into setting exam papers is just exceptional. Big shout out to Prof Ahmed for that IFRS 2 question! Thanks for screwing up my life.
  • People run off to become professional accountants and prepare financial statements without maintaining their knowledge of IFRS‘? I didn’t know this was actually a thing.
  • Why am I not asleep? Seems the understanding of IFRS 9 has been haunting me these days.
  • I’ve finished Luther and House of Cards so I’m on an IFRS 17 webcast. #ifrs17
  • Not sure why plastic is kept on the car seats when it is bought brand new . As you drive off the lot it is heavily depreciated. If there some Plastic IFRS or GAAP I am not aware of.
  • So this IFRS exam just flipped on me. Got hold of new past questions and I’m about to cry. Less than 24hrs to exam and it’s like I haven’t read. God safe me.

(And this is me) God safe me indeed. That’s it for this time. Turn up the J. Cole!

The opinions expressed are those of the author, or at least, maybe they could have been, in this life or another…

 

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