Global Convergence

[Royal]

So ever since I was in accounting years ago, my professors always talked about having the accounting profession follow "global standards".

Because currently we follow US GAAP.

SO why should you care? No world economy can be complete without a global set of rules and regulations to account for everything. The accounting world relies on comparability and consistency. Without those two fundamental attributes, judging the viability of a company will be difficult.

What also makes comparability easier is if you have one world currency. Anyways, here's a link to "NWO" type board making things happen in the accounting world.
http://www.iasb.org/Use+around+the+world/Global+convergence/IFRS+global+convergence.htm

The goal of the IASC Foundation and the IASB is to develop, in the public interest, a single set of high quality global accounting standards. In pursuit of this goal, the IASB works in close cooperation with stakeholders around the world, including investors, national standard-setters, regulators, auditors, academics, and others who have an interest in the development of high quality global standards.

Progress toward this goal has been steady. Since 2001 more than 100 countries require or permit the use of International Financial Reporting Standards (IFRSs), while the remaining major economies have established timelines for convergence with, or adoption of, IFRSs.

In 2006, the IASB and the US Financial Accounting Standards Board (FASB) agreed a Memorandum of Understanding (MoU) that described a programme to achieve improvements in accounting standards, and substantial convergence between IFRSs and US generally accepted accounting principles (GAAP). The MoU was updated in 2008, and in November 2009 the two boards issued a further statement outlining steps for completing their convergence work by 2011.

In 2008, the IASB and the Accounting Standards Board of Japan (ASBJ) published a MoU, known as the Tokyo Agreement, which described work to achieve substantial convergence between IFRSs and Japanese GAAP by June 2011. In 2009 the Japanese Business Accounting Council (BAC), a key advisory body to the Commissioner of the Japanese Financial Services Agency (FSA), approved a roadmap for the adoption of International Financial Reporting Standards (IFRSs) in Japan.

Most recently, at their September 2009 meeting in Pittsburgh, US, the Group of 20 Leaders (G20) reaffirmed their commitment to global convergence in accounting standards, calling on ‘international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting standards within the context of their independent standard setting process, and complete their convergence project by June 2011

[Royal]

I guess I should of known better then to post an accounting topic in a place like this... Puts people to sleep in record time.

[Cogburn]

Not so much that, but that the economically minded around here already view such measures as rearranging the deck chairs on the Titanic.

Such globalized accounting standards are nothing short of fruit of the poisonous tree: their only reason for existence is because of the level to which the bullshit has risen.

Most around here who appreciate, much less understand, the implications of what you posted dismissed it purely out of world-view.

The whole world operating on mark-to-market accounting? Fucking brilliant.

The Doomsday Clock gets a hair closer to midnight.

[boycotteverything]

it all seems to beg the issue of what all these counters are actually counting. i guess they have a special little room in the house of cards to do their diligence. i'd say, Royal, that you made the right choice in fobbing off a counting career.

[Royal]

it all seems to beg the issue of what all these counters are actually counting. i guess they have a special little room in the house of cards to do their diligence. i'd say, Royal, that you made the right choice in fobbing off a counting career.


Fobbing off?

I believe I am still on track to do get my CPA designation and fuck my life over with 12+ hour days...

am I a masochist? or just sick and tired of being middle class?

[eris]

Royal - I'm not gonna tell you not to be an accountant.

I'm gonna tell you I've been a bookkeeper for about 5 years, and I work with a lot of accountants.

Sounds like you've got an idea of what your getting into, so that's good.

I would never, ever wanna be an accountant. People call me an accountant, and I correct them, both out of respect for actual CPAs and the fact that I don't ever, ever wanna do what accountants do.

It's a good career path, but you're basically gonna be dealing with people constantly wanting you to not do your job, and IRS audits and all kinds of bullshit I am always more than happy to hand a couple bankers boxes of receipts over to the accountant and let them deal with.

But then again, that's why they make the money.

[boycotteverything]

am I a masochist? or just sick and tired of being middle class? i dunno- but counting up the profits of the mob doesn't seem like a ticket to the ruling class to me. it sounds more like a wasted life.

It's a good career pathOK

[Royal]

Royal - I'm not gonna tell you not to be an accountant.

I'm gonna tell you I've been a bookkeeper for about 5 years, and I work with a lot of accountants.

Sounds like you've got an idea of what your getting into, so that's good.

I would never, ever wanna be an accountant. People call me an accountant, and I correct them, both out of respect for actual CPAs and the fact that I don't ever, ever wanna do what accountants do.

It's a good career path, but you're basically gonna be dealing with people constantly wanting you to not do your job, and IRS audits and all kinds of bullshit I am always more than happy to hand a couple bankers boxes of receipts over to the accountant and let them deal with.

But then again, that's why they make the money.

I know, CPA's do some crappy work. But who doesn't? Lawyers deal with bullshit, Doctors have to learn how to deal with all kinds of BS...

It seems like every high paid profession deals with shitty situations, its just accounting is the most boring out of the professions.

Thats why I drink my ass off on weekends..

[Royal]

i dunno- but counting up the profits of the mob doesn't seem like a ticket to the ruling class to me. it sounds more like a wasted life.

I know what you mean. But I have no choice.

I took one year off from school and work to figure what I really like. I like writing, music, and languages. Left brain type stuff. But growing up in a poor family with no strong artistic connection, leads me to a dark world where a job can always be found - accounting.

I never had the funds to pursue an artistic skill and thought any profession in art was filled with individuals backed by their parents money without a fear in the world. Knowing that wasn't me, I chose a path where someone from "know where" can attain a good amount of wealth if they stay diligent.

[theeindiee]

I'm not so sure about many of my previous statements anymore. Nobody can fix the game when it's always rigged by greed, even if making money off having money or someone else's debt was eliminated, greed never ceases to conjure up some other financial prison. The NWO is not such a good idea, methinks now. Considering what type of New World Order would be issued by those who hold the world captive. How illuminated are they, really? Illumination and greed don't really go hand in hand.

[theeindiee]

wouldnt music be a right brain thing?

[skunk]

Indie has seen the light. Hallaleuia!

[theeindiee]

In a manner of speaking...

While I highly respect the efforts being made to introduce a new global system of currency (communication, in a way) by people concerned with the legitimacy of the current system (which has much trouble communicating true human values)... I see that the world is not getting closer to the Light of Truth, but farther away from it. The very utterance of a word about anything other than material values is enough to get you crucified, and those coming into adulthood... those who are going to be the keepers and perpetuators of this new system coming to fruition, will be "Godless", and therefore ruthless. One world currency, the mark of the beast. No man or woman to be able to buy or sell without it. Just look at apathy today, with the current economic system and the dwindling freedom it had in the past provided us.... and compare its worst with the worst of one world currency. One world currency under the guidance of, and perpetuated by, people who know of no lasting value or truth. It's not about those who make money from money. It's about those who make the money in the first place. Those who set up the systems to educate the children who eventually come to use of the "means" by which they are to survive. Those within the system who perpetuate it out of ignorance, fear, and greed based upon ignorance and fear.

It doesn't matter what science or mysticism says about reality.... those who are in constant fear for their lives will not listen to reason, and will grasp at the very first thing which promises to ease their pain. Such realizations are personal ones... and they can also easily be used to oppress the ability of others to realize that same potential to overcome fear and become an agent of change.

What I see is not global enlightenment, but global rejection of anything other than material principles, and a perpetuation of "fear of the unknown" to keep the sheep in line. Well, we realize eventually, after renouncing the pomp which comes with partial enlightenment, that WE ARE OF THE SHEEP, WE'RE ALL OF SHEEP MENTALITY AT ONE TIME OR ANOTHER!!! No wisdom or esoteric knowledge puts us above it. If we have this higher awareness, it means that we have it because we're in the right place at the right time, and if we misuse it in any way, shape, or form, we've done everyone in the world a disservice. It is easy to fool yourself in the game of higher learning. Giving the world at large a hero of the people, or giving them an evil villain? Good dressed as bad does not get through to those of a mind we once were of. Although we have had the chance to understand the paradox, most do not get that chance.

Therefore.... give everyone all they need in order to become all that they can be. Because we all have the same potential. It is free to those who ask for it, but if you enchain the whole world with one dominating force and one unflinching source of excused apathy... few will ask for it, in fear of abandonment, punishment, starvation, and death. It's easy to be for something which props up your way of living. Easy to be for something which keeps you sitting pretty and feeling like you are a success. You are only as successful as those around you, and if they are falling because you consider them dim... you are dim as well.

I don't like suffering. I can't pretend that apathy of the suffering of those who aren't given a chance to realize anything beyond the state which suffering creates doesn't affect me anymore. As Buddha and Jesus once said, as long as the world suffers, I suffer with them.

I've been wrong.

[Lexion]

Let's say we get Global
currency.

I have 600 in Global units.

That buys me a washer-dryer
combo, here.

What does it buy me in the
Congo ?

6 women ?

It will never work.

[Cogburn]

You're not commenting on the value of currency, you're commenting on the value of human life.

Big difference.

[Lexion]

Currency buys commodities.

Washer-dryer combo, here.

6 women there.

Same thing.

[Royal]

I'm not so sure about many of my previous statements anymore. Nobody can fix the game when it's always rigged by greed, even if making money off having money or someone else's debt was eliminated, greed never ceases to conjure up some other financial prison. The NWO is not such a good idea, methinks now. Considering what type of New World Order would be issued by those who hold the world captive. How illuminated are they, really? Illumination and greed don't really go hand in hand.


Watch THX 1138 to see where the NWO takes you

[theeindiee]

I've been meaning to watch that movie.

Cog, it feels to me like the value of currency IS the value of human life.... because currency is nothing more than a tool for communicating exchange, and exchange is what CHANGES the world. We need a currency that communicates actively and flexibly. Not a currency which the majority agrees on because they see no other way. The minorities will be horribly opressed that way, because unfortunately the global currency will not speak their language.

Currency is communication of ideas through an active medium, just like electricity is the medium which carries sound through a telephone wire and out a speaker.

But the great thing about electronics is that the same basic element of electricity can be converted to fit any style of electronic gadget with any voltage or wattage or whatever....

Paper money is not a dynamic enough medium to appeal to all points of view, and foisting a one world paper-or-otherwise "point" based economy upon the world will leave half of all people jaded. Just like a videogame, Cog.... some people love to play competetive point based videogames, but a lot of people like games which give them a sense of freedom and adventure.

The key here is giving people motivation to act, and to build, and to create... but points based systems of reward just aren't dynamic enough. One world currency is like forcing everyone to play pong forever.

I dunno what the answer is... but one world currency, one world point based gameplay.... yikes... when the game is rigged anyway.... would definitely make something very scary.