Wow! PSD Rajan, you have really been through it. What a shock. I wish you every success in making a full recovery. As you say, such an experience really puts things into perspective and you realize what is important in life, don't you? I know exactly where you are at because I have had a couple of brushes with the Big C and just about 1 year ago had to have a life-saving operation. It was a kidney transplant and fortunately my life partner was 100% compatible and was able to donate a healthy kidney. We are both doing well but we appreciate certain things much more as a result. That is why I am not so active in this forum as I used to was. There's more to life ...
I hope the moderators do not throw this out as off-topic. Get well soon. We all wish you all the very Best.
Kind Regards, Roy
Roy Brookes AFA, FInstBA,
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| | | ---------------Original Message---------------
From: PSD Rajan
Sent: Sunday, December 05, 2010 11:47 PM
Subject: Selling Price Vs. Cost of production
Thought I will jump in, probably for an unrelated reason and with a selfish
intent. Before that, with caveats to follow....
a) Accounting practices do not govern or dictate trade practices. It is the
other way around, correct?
b) There is clear distinction between accounting standards and trade
practices. Presumption being trade practices have their own controls. A
quick look at the definitions should be sufficient. Obviously, there is an
attempt to confuse trade practices and accounting standards.
Now the caveats ... I really do not know if I make any sense since my
faculties are totally impaired. Had a life threatening medical emergency on
11/16 requiring an open heart surgery. Everything fell in place, including
luck and here I am back home after the 8 hour surgery and 4 days in icu.
The recovery will take 6 weeks, mostly painful. The incident is like pushing
the reset button, taking me all the way back and giving me refresher lessons
on - faith, love, humility, gratitude - to name a few. Forgive me for
hijacking the thread!! And, sorry, at this point in my life, I am not
bothered by either IFRS/GAAP or any of the zillion trade practices! |
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