Curse the accountants! The economists are pissed cuz we hate the FRS.

Two yrs ago, i took an accountancy module called Financial Accounting. And arrived at the conclusion that accountancy is pretty much the art of stabbing around in the dark, then deperately praying that whatever needs to be balanced actually balances on something called the balanced shit.

Two yrs later, i'm going through yet another accounting ordeal also known as Corporate Reporting and the Analysis of Financial Statements. what a mouthful, but it can be summed up using the following analogy:

Imagine your friend comes up to you one day and say, "Hey! I've received $10 today!"

You look at him and reply, "Bullocks you liar! you capitalized $4 worth of shopping and included the $2 spent on hamburger under extraordinary items, which means in actual fact you only have $4 left!"

It's a time-wasting activity. Accountants take a hell lot of time to prepare these financial statements, and despite that, the end users still need to spend time poking holes at the numbers just because some idiotic ppl out there try to bend around the rules - which makes the accounting principles sound quite stupid overall.

This sem however, we learnt a few jokes to poke fun at the accountants, such as:

Accountants are consistently inconsistent

and

EBITDA stands for Earnings Before I Trick the Dumb Accountant