Comments on: In which the ‘exciting content’ meter hits a new low http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/ The idle musings of John B Mon, 02 Jan 2012 17:27:31 +0000 http://wordpress.org/?v= hourly 1 By: John B http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/comment-page-1/#comment-29678 John B Tue, 26 Feb 2008 17:36:59 +0000 http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/#comment-29678 1) they evolved over c.2000 years, but modern standards were codified by the professional accounting bodies in the UK and (later) the US. More recently, the IAS has created international rules based primarily on US and UK GAAP 2) the IAS, an organisation made up of representatives from national accounting bodies, accounting academics and accounting professionals 3) Sorta. If you lie in your financial statements, you are guilty of false accounting and can Go Directly To Jail [in other words, although accounting standards boards don't have the right to stick you in jail themselves, the police can stick you in jail if you don't follow their rules in published accounts] 4) Indeed. See: Andersen, A... 1) they evolved over c.2000 years, but modern standards were codified by the professional accounting bodies in the UK and (later) the US. More recently, the IAS has created international rules based primarily on US and UK GAAP

2) the IAS, an organisation made up of representatives from national accounting bodies, accounting academics and accounting professionals

3) Sorta. If you lie in your financial statements, you are guilty of false accounting and can Go Directly To Jail [in other words, although accounting standards boards don't have the right to stick you in jail themselves, the police can stick you in jail if you don't follow their rules in published accounts]

4) Indeed. See: Andersen, A…

]]> By: Accounting Police: Do They Exist? http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/comment-page-1/#comment-29565 Accounting Police: Do They Exist? Sun, 24 Feb 2008 18:21:06 +0000 http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/#comment-29565 Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules. Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules.

]]> By: Banditry » Blog Archive » Sometimes I go out and have fun http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/comment-page-1/#comment-21360 Banditry » Blog Archive » Sometimes I go out and have fun Wed, 31 Oct 2007 16:27:23 +0000 http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/#comment-21360 [...] I’ve got a new Sharpener piece up on the unholy trinity of Craig Murray, Alisher Usmanov and Prem Sikka. It’s got accountancy, it’s got bribery, it’s got a respected writer making himself look like an idiot and accidentally libelling people - what more could you ask? [...] [...] I’ve got a new Sharpener piece up on the unholy trinity of Craig Murray, Alisher Usmanov and Prem Sikka. It’s got accountancy, it’s got bribery, it’s got a respected writer making himself look like an idiot and accidentally libelling people – what more could you ask? [...]

]]> By: The Sharpener » Blog Archive » Of auditors and ambassadors http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/comment-page-1/#comment-21359 The Sharpener » Blog Archive » Of auditors and ambassadors Wed, 31 Oct 2007 16:14:22 +0000 http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/#comment-21359 [...] However, he’s not a man who should really be writing about financial statements. At the moment, he has a piece on his website that not only misunderstands the nature of auditing and falls for myths from my favourite crank accountant, Dr Prem Sikka, but is probably libellous to boot… [...] [...] However, he’s not a man who should really be writing about financial statements. At the moment, he has a piece on his website that not only misunderstands the nature of auditing and falls for myths from my favourite crank accountant, Dr Prem Sikka, but is probably libellous to boot… [...]

]]> By: Richard J http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/comment-page-1/#comment-18067 Richard J Sat, 01 Sep 2007 17:22:45 +0000 http://www.johnband.org/blog/2007/08/29/in-which-the-exciting-content-meter-hits-a-new-low/#comment-18067 I can think of a few instances where IAS throw up stupid answers, all mainly to do with deferred tax and the quirks of countries' tax systems - non-resident companies holding UK properties can find themselves having to recognise huge amounts of deferred tax for no good reason, but that's just about the only place I can think of... I can think of a few instances where IAS throw up stupid answers, all mainly to do with deferred tax and the quirks of countries’ tax systems – non-resident companies holding UK properties can find themselves having to recognise huge amounts of deferred tax for no good reason, but that’s just about the only place I can think of…

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