I'm sure working at the FASB is harder than I imagine it to be. What I imagine it to be is a bunch of people who like to read about accounting reading a lot about accounting.
According to Richard Thaler, “If you want to encourage someone to do something, make it easy.” Man, did accountants miss that memo.
I don't quite remember when I first learned about the concept of materiality, but my hunch is that it was in the first accounting class I ever took, which was in high school.
Smithers, fetch me my quill pen!
How about some accounting technical mumbo jumbo for a late Monday afternoon?
Ain't nobody got time for convergadoption.
It's complicated, people.
Accounting rules are complex. It is known.
This is becoming more dramatic than my last unhealthy relationship.
FINE! We didn't want to converge with you anyway.