There are many accounting standards to be learned in this paper namely Financial Reporting. One of it is IAS 8 Change in accounting policies, Change in accounting estimates and Fundamental errors. Do not be sacred away by these accounting terms. It is perfectly okay if it looks strange to you because it is an accounting jargon. *sigh*
I am all the more happy to have a young, pretty, experienced and caliber lecturer to lecture me on financial reporting. Beside lecturing, she even taught us how to fly a rocket! I guess it is normal. To ensure that the syllabus can be covered on time.
I think it was during the second lecture, she started using the favorite word for most of us as teenager - boyfriend and girlfriend! Not only that. The sentence that caught my attention to her lecture again was when she said: "In the balance sheet itself actually contains a lot of s***!"
Erm.... I shall not make any comment.
Okay, back to IAS 8.
The first element in this IAS is a change in accounting policies. This changes is not encourage. The word policies can be replace by the word practices.
The second element is a change in accounting estimates. This kind of changes is encourage to disclose frequently, preferably every year.
The third element, fundamental errors. I will not elaborate. It has nothing to do with my posting today. *ha*
After explaining, ample example is given. How nice to have such lecturer! *awe* Then, read the conversation below,
Lecturer: "Ok, change of boyfriend. Consider as change of policy or estimate?"
No one answer. As usual. So, she picked some one to answer.
Lecturer:"A, what do you think? Policy or Estimate?"
A looked stunned.
A:"No idea."
Lecturer:"No idea ar? Ok, never mind."
Lecturer looked around. Looking for some one else to answer her question. And she got one.
Lecturer:" SP, what do you think? Policy or Estimate?"
SP:"Hmm... Policy."
Lecturer:"OK, what about JY? What do you think?"
JY:" Policy."
Lecturer:" Whoa! So serious ar? A change of boyfriend means a change of policy ar?"
I felt relieved that she stopped picking student to answer this question. I was sitting beside SP and JY! She continued.
Lecturer:" A change of boyfriend is actually an estimate. Not policy. Because no matter how many boyfriend you change, both of you all will still be doing he same thing right? If do same thing means same practice la. If same practice meaning same policy la."I am all the more happy to have a young, pretty, experienced and caliber lecturer to lecture me on financial reporting. Beside lecturing, she even taught us how to fly a rocket! I guess it is normal. To ensure that the syllabus can be covered on time.
I think it was during the second lecture, she started using the favorite word for most of us as teenager - boyfriend and girlfriend! Not only that. The sentence that caught my attention to her lecture again was when she said: "In the balance sheet itself actually contains a lot of s***!"
Erm.... I shall not make any comment.
Okay, back to IAS 8.
The first element in this IAS is a change in accounting policies. This changes is not encourage. The word policies can be replace by the word practices.
The second element is a change in accounting estimates. This kind of changes is encourage to disclose frequently, preferably every year.
The third element, fundamental errors. I will not elaborate. It has nothing to do with my posting today. *ha*
After explaining, ample example is given. How nice to have such lecturer! *awe* Then, read the conversation below,
Lecturer: "Ok, change of boyfriend. Consider as change of policy or estimate?"
No one answer. As usual. So, she picked some one to answer.
Lecturer:"A, what do you think? Policy or Estimate?"
A looked stunned.
A:"No idea."
Lecturer:"No idea ar? Ok, never mind."
Lecturer looked around. Looking for some one else to answer her question. And she got one.
Lecturer:" SP, what do you think? Policy or Estimate?"
SP:"Hmm... Policy."
Lecturer:"OK, what about JY? What do you think?"
JY:" Policy."
Lecturer:" Whoa! So serious ar? A change of boyfriend means a change of policy ar?"
I felt relieved that she stopped picking student to answer this question. I was sitting beside SP and JY! She continued.
O.o
Lecturer:" Actually, it is like that. At first, when you evaluate your boyfriend or girlfriend personality, you will make your own estimate that maybe this guy or girl has this this this few personality that you want. But after sometimes, if you find your estimate is not so right, you should change your estimate. And every time you change it, make sure you disclose it. So that the impact wouldn't be too great! Don't just simply change new one. It's not encourage to do so."
O.o
Continue talking while cleaning the board.
Lecturer:"Nowadays ar, a lot of women said she is blind la, stupid la, for choosing this guy as her husband. No need to say like one. All they have to do is to change their estimate, and then move on. If don't want to change it, then divorce lo. What to do right? Estimation involves uncertainty and individual judgment. Estimation can be wrong ma."
O.o
Lecture continued... ...
A food for thought! So coincidence, I was reading the book "Living for God in the modern world".
I was reading the last three chapter. Which the sub-topics are:
- What about courtship?
- What about marriage?
- Approved unto God
Ephesians 5:31
"For this cause a man shall leave his father and mother and shall be joined to his wife, and the two of them shall be one flesh."
1Peter 3:7
Likewise, husbands, live together according to knowledge, giving honor to the wife as to the weaker vessel, the female, as truly being co-heirs together of the grace of life, not cutting off your prayers.
2Timothy 2:15
Study earnestly to present yourself approved to God, a workman that does not need to be ashamed, rightly dividing the Word of Truth.
"For this cause a man shall leave his father and mother and shall be joined to his wife, and the two of them shall be one flesh."
1Peter 3:7
Likewise, husbands, live together according to knowledge, giving honor to the wife as to the weaker vessel, the female, as truly being co-heirs together of the grace of life, not cutting off your prayers.
2Timothy 2:15
Study earnestly to present yourself approved to God, a workman that does not need to be ashamed, rightly dividing the Word of Truth.
1 comment:
woi update laaaa
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