IFRS rulebook: light reading
More than 8,000 companies have finally boarded the IFRS train, despite the complaints previously that IFRS was too long, complex and required far too many disclosures.
To help things along, TS was delighted to learn that E&Y has published a book with guidelines to applying the rules. But the book, GAAP 2007, by Allister Wilson, comes in at a whopping 2,600 pages.
TS was horrified at the thought of such a mammoth read, and equally shocked at the very passe ‘GAAP’ in the title.
Nobody refers to IFRS as GAAP. The people at E&Y should really be told. But at least the book’s length was justified, according to LexisNexis PR Josh Bottomley.
‘It’s like this. A book on how to play golf is no doubt going to be longer than a book on the actual rules,’ he said. Now we know.