Dr Who Agree! Am patient. Contemplating material uplift in...

Dr Who

Agree! Am patient. Contemplating material uplift in wealth in time.

I believe the accountants who drafted the "cash accounting SSAP" are biased (their organisational format is not listed ) ........and that the cash accounting SSAP is a backward Luddite step in the accountancy world.

One amazing fact here is that we have been mostly unable to compare like for like P/L on SGS ( Formerly QPP PSD) trading because of shifting accounting bases and methods of valuation. A fundamental base in accounting is the need to have accounting rules like for like between one period and another. There will be a lot to see/ review/interpret in the next published accounts.

I am amazed that the financial commentariati and statisticians of this world have not lifted the lid on how daft it is. While it is not possible to prove what % of NIHL will be successful by reference to past
trade ( and possible change of rules and change of attitude by the insurance cos with the dragging feet)
it absolutely is in SGS motor ins claims. Failure to adequately value an asset ( in WIP) could in some audits be regarded as fraud. Failure to adequately value assets in some titans of the corporate world would bust them.

Meantime looking forward to taking down some white knickers at Twickers in March. Ho Ho.
Last time I was there 40000 english were roaring on Scotland. It s just possible I might go quiet late on Sunday afternoon.

mel