My Degree Will Mean Nothing!

So, the buzz around the accounting world is that all the rules are going to change because the United States just naturally has to do everything differently from the rest of the world.  They go to the metric system, we like our other system (does it have a name? (I Googled it, it's just United States Customary Units (boring, right?))).  Anyway, so, America has the FASB, and the rest of the world has the IASB.  Allow me to illustrate the comparison between the two.

Rules
If the two were dinosaurs, FASB would be a T-Rex because it's large and boisterous and eats people.  IASB would be a velociraptor because it's small and fast and eats people.  Either way, humanity loses.

Wording
If the two were plays, FASB would be The Crucible.  Sure it's hard to understand, but you get the gist of what they are trying to say and maybe come out a better person because of it.  IASB would be anything written by Shakespeare and not translated by a scholar.  Basically, you recognize some words in it, but the rest is just archaic gibberish.

Fun
If they were both parties, FASB would be a surprise pancake party.  You know, where you host the party, and then invite someone over and yell SURPRIIIIIIIIIIISE and then you eat pancakes.  And you can make all sorts of pancakes.  Any kind you want.  And you can have syrup or butter or mayonnaise, whatever you want really!  IASB would be your distant great uncle's funeral when you were five.  The food was good, the adults were annoying, but you got to play around in the Church beforehand, so it was all good.

Hmm.  I suppose that was more of a differentiation than a comparison.  Well...no point in correcting it now!

Moral of the story, the two are going to converge and become one Super Accounting Body responsible for all us lost souls who still think accounting is fun.  And this convergence (a bit PVC if you ask me) is expected to happen in the next 3-5 years.  Right.  When.  I.  Get.  Done.  With.  School.

And that my friends, is precisely why I'm not going to try anymore.  It doesn't matter.

Post Reference,
Brian