April 16, 2012 at 12:38 am
IAS 69: Accounting for Girl Friends
The objective of IFRS 69 is to prescribe the accounting treatment for Girl friends. The principal issues are the timing of recognition of a female friend as a girl friend, the no. of days the relationship can be carried on and any write down in this romantic relationship. It also provides guidance on the methods to be employed to make GF.
This IAS applies to all GF’s except those whose father, brother, ex-boyfriends or prospective boyfriends are working in police, army, intelligence agencies or political organizations or 6+ feet tall, have muscular body and know kung fu, judo or any other marshal art.
The following terms are used in this Standard with the meanings specified:
– LOVE is a serious mental disease, mostly found in old Indian movies, dramas and Urdu literature.
– FLIRTING is the modern form of love; this disease came from Hollywood movies, new Indian movies, internet, mobile phones, and English literature.
– MARRIAGE is a long term liability as a result of PAST events that is expected to be settled by increasing the population, decreasing the health and money.
-GIRL FRIEND is a current asset as a result of past efforts and events that is probable to generate future dates, physical contact and gifts. If not properly handled may become long-term liability i.e. wife.
-BOYFRIEND-SPECIFIC VALUE is the present value of the future dates that a boyfriend expects to realize from continuing use of the GF over its useful life and from its disposal to his another friend at the end of the flirting term
-FLIRTING TERM is the higher of the following:
-from your first conversation till the time the GF father catches you
-from the time of your first date till your GF get married with another person ,in which case she will become your ex-GF.
-from the time of your first date till you get married with your GF, afterward it will become a suffering term.
A girl shall be recognized as a girl friend if, and only if:
(a) it is probable that future physical benefits associated with the girlfriend will flow to the boyfriend,
(b) no possibility of GF becoming a long term liability (wife) exists and
(c) the expenditures to be incurred (e.g. in respect of gifts, cards etc ) can be measured reliably Female Cousins, younger sisters, and other female friends associated with the girlfriend should not be recognized. However, beautiful and bold ones should be declared in the flirting statement if and only if it is probable that they are expected to result in prospective girlfriends.
MEASUREMENT OF USEFUL LIFE OF GF
All the following factors shall be considered in determining the useful life of a GF:
(a) Expected “usage” of the girlfriend.
(b) Expected “physical” wear and tear, which depends on “operational” factors such as the number of “shifts” the GF is to be used.
(c) Technical or commercial obsolescence arising from changes in fashion or “service output” of the GF.
(d) “Legal” or similar limits on the “use” of the GF.
The Girl Friend shall be derecognized:
1. at the end of the useful life of GF or flirting term whichever is earlier,
2. when no future benefits are expected from her or her disposal or 3.
3. when remote possibility of GF becoming long term liability occurs.
The flirting statement shall disclose, for each “class” of GF:
a) Total no. of GFs with:
-age of GF
-complexion, face cut
-the useful life of each GF
-email address, residential address and mobile no. of each GF
-any “special” benefits that may have been derived from the GF
b) A reliable estimate of the boy friend regarding no. of expected GFs for each class of GF.
c) A reliable estimate of the expenditures to be incurred (e.g. in respect of gifts, cards etc) for each class of GF .May 4, 2012 at 7:54 am
haha.. totally insaneMay 27, 2012 at 11:22 am
Great one!June 25, 2012 at 8:14 am
This IAS is a very important one,
especially to boyzJune 27, 2012 at 12:23 pm
i was just going to post same thing hereJuly 13, 2012 at 5:51 pm
Very funny indeedJuly 14, 2012 at 6:33 pm
isa 420 isssss cuming soon for boyfriendss..January 30, 2013 at 9:01 pm
well done:)January 31, 2013 at 1:24 pm
lol.good creativety there.when is the IAS on accounting for boyfriends going to be created.January 31, 2013 at 3:58 pm
this is an exam stress relief joke. well doneFebruary 1, 2013 at 3:31 am
what a way for at least some time get my mind of February 8..completely insane…lolFebruary 6, 2013 at 7:08 am
Part C on recognition of GF is very interesting… Female Cousins, young sisters and other female friends associated with the GF should not be recognized. However beautiful and bold ones should be declared in the flirting statement if and only if it is probable that they are expected to result in prospective girl friends.February 17, 2013 at 10:29 pm
lolllzzz…… Gud one!! Yup I agree IAS 420 for boyfriends… 😀February 19, 2013 at 7:04 am
Wow!!!! Really fantastic!!March 27, 2013 at 2:48 am
This is AWESOME..!!! I went cracking from the “SCOPE”…..ESP the “SCOPE”April 11, 2013 at 2:40 am
awsumApril 13, 2013 at 4:56 am
420 is slang for marijuana btw. I dont see the connection! but HAHA for the joke! 😀April 17, 2013 at 12:48 pm
Just … fantasticApril 17, 2013 at 4:55 pm
Hahahah. .. it makes my day….. lolMay 26, 2013 at 2:52 pm
YEAH WHERE IS THE ONE WITH THE BOYFRIEDS RECOGNITION….I WILL DO CREATIVE ACCOUNTING NOWMay 28, 2013 at 12:22 pm
its really a grt one.luv itJune 8, 2013 at 7:57 pm
trust me man u will surely be called up to join some standard setting agency. this encourages comparability across international boundariesMay 11, 2017 at 6:46 pm
This is creative. Please comment on all IASB exposure drafts LOL
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