It has become a cliché to say that accounting is the language of business. That metaphor is helpful because it emphasises that accounting conveys vital information about business. But the metaphor can be unhelpful because, although accounting is a system for conveying information, accounting lacks most features of real human languages, such as Arabic, Chinese,…… Continue reading Accounting is not a language
Which conjunction do English speakers use with the comparative form of adjectives to describe a test applied to 2 nouns in order to select one of those nouns? I have the impression that American English uses, for example, ‘the lower of A or B’ where British English uses ‘the lower of A and B’. I…… Continue reading The lower of one thing or the lower of 2 things?
IFRS standards use too many different terms to describe how likely it is that an event will occur. That is a clear conclusion of KASB Research Report No. 39 / AASB Research Report No. 2 Accounting Judgements on Terms of Likelihood in IFRS: Korea and Australia, issued in 2016 by the Korea Accounting Standards Board…… Continue reading Saying how likely something is
The International Accounting Standards Board (IASB) sometimes writes requirements in the form ‘if A is the case, an entity shall do B’. But in other places it writes such requirements in the form ‘if, and only if, A is the case, an entity shall do B’. Are those two forms intended to have different meanings?…… Continue reading If, and only if…