Ask an Australian accounting student anything...

[Codyisback]

Go...

[HM47]

IFRS or GAAP?

[GhenghisPWN]

BRB GAAP useful only in US. BRB study GAAP. BRB IFRS gonna be up in this bitch shortly. BRB God damnit.

[Codyisback]

IFRS, the Australian rendition of IFRS is the AASB (Australian Accounting Standards Board) standards. From what I understand the US is one of the few first world economies who doesn't choose to adopt IFRS. Apparently when it was bought out there was something about the tax reporting suggestions in it the state didn't like, though from what I remember IFRS did go through extensive legislative review in the US before being rejected.

[Centrelinkbrah]

How is the job market for accountant graduates?

[Codyisback]

BRB GAAP useful only in US. BRB study GAAP. BRB IFRS gonna be up in this bi*ch shortly. BRB God damnit.

I'd say it's going to be a few years at least before the US state adopts it (if it ever does). If it doesn't completely suit it in regards to taxation, financial markets and other forms of government revenues etcetera then I doubt it'll be adopted.

[Codyisback]

How is the job market for accountant graduates?

It's a wildfire - Australia's major recruitment website:

"graduate accountant"

http://www.seek.com.au/jobs/in-austr...ck&searchType=

I got up to page 30 though there's probably 50+

[DasPhilosopher]

Hows your sex life?

[Beeekay]

Where are you studying?

[Codyisback]

Hows your sex life?

I'm doing the horizontal pants dance with Excel spread sheets every day. I'm a player.

[Codyisback]

Where are you studying?

Australia

[Beeekay]

Australia

no fukin chit. What uni are you at?.

[Codyisback]

no fukin chit. What uni are you at?.

haha USyd

[DasPhilosopher]

I'm doing the horizontal pants dance with Excel spread sheets every day. I'm a player.

:/


...


You're an idiot.

[Codyisback]

bump, ask away friends

[strikeplay]

I'm doing the horizontal pants dance with Excel spread sheets every day. I'm a player.

I think what he mean was are you inserting your D colomn into some vlookups nomsayin?

[theswolegoal]

Do my tax

[Codyisback]

I think what he mean was are you inserting your D colomn into some vlookups nomsayin?

I'm more of a fan of inserting my functions between brackets () if you naameean.

[Codyisback]

Do my tax

Invoice terms 2/10 n30. I would probably charge you about $200.

[MrGhostface33]

following same path as you op. das it mane.

[Codyisback]

following same path as you op. das it mane.

dat best course for graduate jobs. brb minimal experience in workforce and been offered a job the moment I graduate. Are you on dat UK accounting time?

[tk217]

IFRS, the Australian rendition of IFRS is the AASB (Australian Accounting Standards Board) standards. From what I understand the US is one of the few first world economies who doesn't choose to adopt IFRS. Apparently when it was bought out there was something about the tax reporting suggestions in it the state didn't like, though from what I remember IFRS did go through extensive legislative review in the US before being rejected.

That isn't true. We have IFRS if we're international and it is the US-IFRS if we are international.

[Laverna]

Gross. Law/Finance crew checking in. Hated accounting.

[tk217]

Gross. Law/Finance crew checking in. Hated accounting.

Yeah, all our finance majors "hate accounting."

Hehehehe.

[Codyisback]

That isn't true. We have IFRS if we're international and it is the US-IFRS if we are international.

yeah but not for domestic accounting purposes.

[Codyisback]

Gross. Law/Finance crew checking in. Hated accounting.

Haha it's easy to get into a finance job if you do accounting. A few extra hours of coursework here and there. They're all about numbers - birds of a feather flock together. Right now I'm doing a mandatory accounting subject and its all about the financial markets lol, and it's only the first week of semester and I've already done the self study questions up to the third last week lol. future value, present value, futures contracts, 90 day bank bills etc. Is law hard?

[Tarck]

BRB GAAP useful only in US. BRB study GAAP. BRB IFRS gonna be up in this bitch shortly. BRB God damnit.

Don't hold your breath -- too many fundamental differences. US GAAP will continue to evolve, bringing it more into line with IFRS, but true convergence (and US adoption of IFRS) probably won't happen while we're still in the workforce.

Source: My Art History degree.

[Codyisback]

Yeah, all our finance majors "hate accounting."

Hehehehe.

There's so much work and opportunities for accounting that's why I'm doing it. Finish accounting, get your CPA/chartered accountnat licence (like 100 hours of study), work in an ccounting firm for two years then you can set up your own accounting company. Founding a business is easy as in Australia do to supportive legislation.

[Tarck]

Invoice terms 2/10 n30. I would probably charge you about $200.

2/10 n30 are some pretty generous terms. Hnnnggggg...WoodPayEarly/10.

[Codyisback]

Don't hold your breath -- too many fundamental differences. US GAAP will continue to evolve, bringing it more into line with IFRS, but true convergence (and US adoption of IFRS) probably won't happen while we're still in the workforce.

Source: My Art History degree.

that's right, a conscious name change and overhaul to IFRS won't happen, but in all likelihood GAAP may continually evolve to be more and more like IFRS.