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out_thereAssignment 1 - Finally damn well finished! *pops open champagne*
Hey, it's 3000 words, and 13 pages of double spaced accounting mumbo-jumbo. (And next time a teacher says the research is all internet based, I'm going to know that I need about four times as long as I think I'll need.) In summary:
- The international standards will be adopted in Australia by Jan 2005
- The Australian Accounting Standards Board (AASB) is still issueing the new standards, which are basically the international standards (without a couple of the internation options).
- The International Accounting Standards Board (IASB) isn't going to budge on the internal intangible assets thing, so come 2005, there's going to be a few Aussie companies writing off their assets. (Won't that be interesting for the stock exchange)
- Hopefully, the Financial Reporting Council (FRC) will pull a finger out and get a little more international recognition for Aussie accountants, or we're going to end up being internationally compliant and basically damn hopeful that the IASB won't bring in standards that will screw with Australia's generally accepted accounting practices.
I didn't talk about a lot of technical changes (oops!); didn't talk about the culture in the IASB, or the lack of accounting for Islamic countries (which apparently, don't recognise interest costs in their accounting systems due to religious follow-through) and I'm pretty sure it sounds as cynical and ignorant as I feel at this moment. Still, it's done (which is just as well since I took today sick off work to do it).
I'm not starting the next one until tomorrow. Oh boy, I'm so screwed.
ETA: Forgot to mention that I found a nifty World Clock. See? Now I have a way of knowing what time it is where you live. *grins maniacally*
I'm going to print this assignment in the morning, and right now, I'm going to pamper myself with the next bit of![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
phoebesmum's SN AU.
Hey, it's 3000 words, and 13 pages of double spaced accounting mumbo-jumbo. (And next time a teacher says the research is all internet based, I'm going to know that I need about four times as long as I think I'll need.) In summary:
- The international standards will be adopted in Australia by Jan 2005
- The Australian Accounting Standards Board (AASB) is still issueing the new standards, which are basically the international standards (without a couple of the internation options).
- The International Accounting Standards Board (IASB) isn't going to budge on the internal intangible assets thing, so come 2005, there's going to be a few Aussie companies writing off their assets. (Won't that be interesting for the stock exchange)
- Hopefully, the Financial Reporting Council (FRC) will pull a finger out and get a little more international recognition for Aussie accountants, or we're going to end up being internationally compliant and basically damn hopeful that the IASB won't bring in standards that will screw with Australia's generally accepted accounting practices.
I didn't talk about a lot of technical changes (oops!); didn't talk about the culture in the IASB, or the lack of accounting for Islamic countries (which apparently, don't recognise interest costs in their accounting systems due to religious follow-through) and I'm pretty sure it sounds as cynical and ignorant as I feel at this moment. Still, it's done (which is just as well since I took today sick off work to do it).
I'm not starting the next one until tomorrow. Oh boy, I'm so screwed.
ETA: Forgot to mention that I found a nifty World Clock. See? Now I have a way of knowing what time it is where you live. *grins maniacally*
I'm going to print this assignment in the morning, and right now, I'm going to pamper myself with the next bit of
phoebesmum's SN AU.
