Can IFRS be understood by dummies?

TS HAS BEEN TIED up of late, locked in a cupboard, trying to avoid the IFRS debates: will the US converge or won’t they; what are the many changes; and what does it mean?

Until, that is, Leavitt Walmsley Associates’ director Steve Collings decided to throw us a lifeline in the form of IFRS for Dummies.

Once the sniggering had subsided, we at the TS desk found ourselves engrossed in the chapter  The Part of Tens, which includes ten pitfalls to avoid and ten future developments of IFRS. Not to mention a chapter (only two pages) on the putting mistakes right, one clarifying an asset is an asset and looking at assets you don’t see every day.

Now, if only TS could get a book on Olympics for dummies, explaining how to avoid the top ten pitfalls and mistakes made by the security team!