Sunday, April 2, 2023

"IFRS: The Rules of the Accounting Game, So You Don't Have to Play It Blindfolded" (A Poem on IFRS composed by Jkjiwani)



Of standards for accounting we speak 
A framework of rules that we seek 
To bring order to numbers and more 
And make financial reporting a chore

IFRS, the acronym we use 
A set of rules, we cannot refuse
 To ensure that financial statements are clear 
And that investors have nothing to fear

The global standard, IFRS we say
 To present financials in a clear way
 To help stakeholders make informed choices
 And listen to the markets' various voices

It's a language we speak, a standard we share
To show the world that we're fair and square
 IFRS, the benchmark for accounting 
Ensures financial information's reliability astounding

In balance sheets, income statements and more
 IFRS ensures that there's no hidden score 
Transparent and clear, we report with pride 
IFRS, the accounting rules we abide.

With IFRS, we can compare
 Companies from anywhere 
From New York to Paris, from Tokyo to Rome
Their financials we can truly hone

For businesses big and small 
IFRS makes it easy to appall
 Their finances to investors and lenders 
And to comply with all legal tenders


From revenue recognition to leases and more 
IFRS covers it all, that's for sure
For consistency and comparability 
IFRS is the best accounting ability


So let's embrace IFRS, let it be known 
The standard that has grown and grown 
For transparency and accuracy 
IFRS is the true epitome of accounting supremacy.


With IFRS, the world is connected 
Financial reporting is no longer rejected
 Investors can compare apples with apples
And make informed decisions, without any hassles

IFRS improves the quality of financial information
 Enhancing accountability and investor protection
 The standards are principles-based 
And ensure that financial reporting is not a race

Adoption of IFRS can be a challenge for some
 But it's a necessary change, and we must overcome
 It provides a common language and framework
 To ensure that financial reports are transparent and not in the dark

Also, IFRS is the way to go 
It's the global standard for financial reporting, don't you know?
 It ensures accuracy and transparency
 And helps investors make decisions with great clarity.

So let us all embrace IFRS with open arms 
For it brings uniformity and consistency, and no harm
 The rules and regulations it contains
 Make financial statements less complex and more plain

From the largest corporations to the smallest businesses 
IFRS benefits all with its comprehensiveness
 It is a language that we all can speak
 And with its use, financial reporting becomes unique

IFRS is not just a set of rules 
But a means to manage risks and financial jewels 
It promotes the reliability and relevance of financial reports
And helps companies to efficiently run their courts

In the end, we can all agree
 That IFRS is the way to financial transparency 
It ensures that financial statements are comparable and true
 And that companies can be held accountable for what they do
.
In this fast-paced world, IFRS is a must
 It ensures that financial reporting is just 
A means to communicate financial health 
And provide insights to improve wealth

IFRS helps us make informed decision
s And provides a roadmap to financial precision
 So let's continue to adopt IFRS with zeal 
For it's the global standard of accounting appeal.

Let's make IFRS our guiding light
 For financial reporting that's always right 
It promotes trust and confidence in the market
And helps businesses to grow and spark it

With IFRS, let's strive for excellence
 And achieve financial transparency without any pretense
For it's the path to financial success
And the key to creating a world of progress.

In conclusion, IFRS is the global standard
For financial reporting, it's the commander 
It brings clarity and consistency to the fore
 And helps investors make decisions that are more

IFRS is a language that we all can speak 
And it helps us manage financial risks and keep
 Our businesses on track and running well 
With accurate and reliable financial info to sell

So let us continue to use IFRS with pride 
And embrace its principles, side by side 
For it ensures transparency and accountability 
And helps us achieve financial stability.

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