IFRIC 21, or: I wasn’t elected to be perfect…

Although financial reporting has brought a miraculous amount of clarity and structure to the world, it’s also responsible for a colossal volume of wasted time…. A recent manifestation of this is IFRIC Interpretation 21 Levies, effective for annual periods beginning on or after January 1, 2014. IFRIC 21 was driven by requests for guidance on…