The International Accounting Standards Board thinks it's high time that we all got back to basics. Too much of this non-GAAP nonsense has people thinking they can just throw some numbers out there and put labels on 'em.
After releasing its proposal to delay its revenue recognition rule back in April, the IASB received 100 comment letters and "virtually all" of them supported the idea. Today, they went ahead and pushed it back to 2018. Happy?
CONVERGADOPT OR ELSE!
This is happening, people.
This is becoming more dramatic than my last unhealthy relationship.
FINE! We didn't want to converge with you anyway.
Tell us how you really feel.
It's like Hands Across America but with accounting rules and there are Europeans involved.
Only a bloody Dutchman.