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December 8, 2022

Accounting News Roundup: IFRS Stuck in Reverse; How to Meet Firms; Back Away From the BlackBerry | 10.23.12

Rulesetter warns global accounting drive may go into reverse [Reuters]
"There is a risk that, in the absence of a U.S. decision on adoption, a decade of convergence may be followed by a new period of divergence," said the IASB staff report released on Tuesday in response to a July U.S. announcement. The report responds point by point to issues raised by the U.S. authorities, which said in July that full adoption of the IASB's rules known as IFRSs had little support and they would stick to requiring generally accepted accounting principles or GAAP. "While acknowledging the challenges, the analysis … shows that there are no insurmountable obstacles for adoption of IFRSs by the United States," IASB Trustees Chairman Michel Prada said.

U.S. leadership position among accounting bodies at stake if progress toward IFRS, convergence stalls, Melancon warns [JofA]
“The world is watching,” [Barry] Melancon said. “The world is very much aware of the U.S. stepping back.”

How to Meet the Firms [Confessions of a CPA]
"Talk of how far you drove or how hard you've been looking for a job is not advisable."

Accountant is "Usain Bolt of crosswords" [ICAEW]
And is trying to become the LeBron James of Sudoku.

Calling All Germs [WSJ]
FYI: "A lab tested eight randomly selected phones from a Chicago office for this article. The phones showed no signs of E. coli or staphylococci bacteria. But all phones showed abnormally high numbers of coliforms, a bacteria indicating fecal contamination. Of the eight phones tested by HML Labs of Muncie, Ind., there were between about 2,700 and 4,200 units of coliform bacteria. In drinking water, the limit is less than 1 unit per 100 ml of water."

iPads to Outnumber BlackBerrys in the Office by 2014 [ATD]
Please don't cling to it.

Accused Bank Robber Returns To Alleged Scene Of Crime To Complain [AP]
Syracuse police say 28-year-old Arthur Bundrage, of East Syracuse, went into a bank at about 9 a.m. and demanded $20,000. Authorities say a teller initially refused, but relented and gave him some money, even though he never showed a weapon or made a threat. Investigators say Bundrage left but returned when he found he hadn't been given $20,000. Officers say they found him at the bank's locked front door, trying to get back in.

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