IASB, FASB, GAAP, SEC, and IOSCO

so, i'm pretty sure no one cares about this but me, but i thought it was interesting.

i've always loved math and i wanted to follow in the footsteps of my sister annalee to become a mathematician, but as it got closer to time to choose a major, i started weighing all the pros and cons. though math would be fun, i figured accounting would be a good job for a stay at home mom or just a good skill to have. i thought it probably wouldn't be all that interesting, just basic arithmetic, but i thought it would be the best choice. once i actually got here, a ton of people kept talking about how hard accounting was. i started to get very confused and a little worried that i wouldn't like it that much.

most of our classes we just do at our own pace on a computer program. i've been doing it at about twice the recommended pace (and listen to him talking at about twice the normal speed, you can make the lectures go in fast or slow motion, it's really funny). i've found that it's actually not too hard and kind of fun, just like math. also, even though everyone says accounting is just basic arithmetic and you don't need to know higher math, it actually helps a lot to understand algebra and calculus.

basically, the point of accounting is to figure out what the value of a company is. in order to make sure that everyone values companies the same way and you can compare the values of different companies, there is a basic set of rules. in the US we have what's called the GAAP, but every country does their own thing. today we had our first required lecture and i thought it was really interesting. the professor said that in 2012, we're going to switch over to an international set of rules to increase the global economy and international trade. according to my current life plan, that's right about when i'll be coming home from my mission and starting work as an accountant. hopefully this means that's what we'll be learning in my classes and i'll have an advantage over all the old accountant who don't know the new rules.

as i said, this is really boring, except maybe to annalee, but i'm just gonna post it anyway.