Saturday, January 1, 2011

Only 25% of IFRS practitioners have input into it

Let's join the herd that doesn't have input into its own regulation.

We could have decided to make all streets one way to simplify the traffic system. At least it would eliminate the arrow for crossing the incoming traffic to the left. Less data for drivers to deal with. But we didn't. We have a class that teaches people before they are allowed to drive. And they get ticketed every time until they learn it.

Maybe we should take the world's tax code instead. Please. Oh my God! I can't think of anything more needed out of excruciating desperation and pain. Nothing is more certain than taxes and Death because US Taxes cause immediate and un-amortized Death.

I would love to see what Congress will respond to their constituents when a crisis occurs again 5 years from now, and the US can't just change US GAAP to deal with the new issues discovered. Sovereignty is something that probably accountants haven't had to deal much with.