2 + 2 = ? by The Bad Accountant
the equation which looks simple ab initio may require coplex processes in order to achieve its output. There might have been a consensus as regards its outcome over the years, but may schools, fields and disciplines have adopted different approaches in achieving their result. The following conversation gives a glimpse of how different professionals reach their conclusion:
# A student of Statistics: a professor of Demography and social statistics asked his student, what is 2+2? The student replied, i would need to employ statistical analysis in order to solve this, but certainly the result should lie in between 3.8 & 4.2.
# Newly employed lecturer: a professor of mathematics asked the junior lecture, what is 2+2? He replied, i would need solve this equation by adopting a complex mahematical formula, as well as some theorems, so i can’t give you the answer right away.
#The Lawyer: The preciding judge asked the defendant’s lawyer … then what is 2+2?
He replied with a smiling face ‘ well based on the decision of the court in the case of Velson V Solomon LTD (1906) (QB 45), it was declared to be 4.
# The Seller: A buyer transacting with the seller on consumable goods was in the process of calculating the amount due, he was stucked, he then asked the seller , please what is 2+2? The seller said i don’t know but the calculator will give us an accurate result.
# The Logician: he paused for a while asked the question and then said, this probably is solvable.
# The physicist when asked declared, “it is in the magnitude of 1 x 10 ^1″.
# The Accountant: One of the senior managers of Renks Plc was stucked with some calculations, he ordered the Accountant to his office and asked the Accountant, what is 2+2? The Accountant looked at the manager once again, he chuckled, went to the door to check if no one is coming, went back to the manger’s desk and lean on it. He then replied in a low voice “what would you want it to be? This is Creative accounting (fraudulent financial reporting).
• Creative accounting refers to management attempt to fool around with its accounting in order to achieve an objective. A concept of maintaining accounts giving possibly illegal or dubious benefits to the entity for which the accounts are maintained or for personal benefit of the Top management. It may also be described as an act engaged by an accountant by exploiting his professional creativity in a negative manner, especially in fraudulent financial reporting.
• Fraudulet financial reporting: one of the types of intentional misstatements, the other which is missappriopration of asset. The International Standard on Auditing 240 defined the term Fraudulent financial reporting as ” involves intentional misstatemets, including omissions of amounts or disclosures in financial statements, to deceive financial statement users”.
the equation which looks simple ab initio may require coplex processes in order to achieve its output. There might have been a consensus as regards its outcome over the years, but may schools, fields and disciplines have adopted different approaches in achieving their result. The following conversation gives a glimpse of how different professionals reach their conclusion:
# A student of Statistics: a professor of Demography and social statistics asked his student, what is 2+2? The student replied, i would need to employ statistical analysis in order to solve this, but certainly the result should lie in between 3.8 & 4.2.
# Newly employed lecturer: a professor of mathematics asked the junior lecture, what is 2+2? He replied, i would need solve this equation by adopting a complex mahematical formula, as well as some theorems, so i can’t give you the answer right away.
#The Lawyer: The preciding judge asked the defendant’s lawyer … then what is 2+2?
He replied with a smiling face ‘ well based on the decision of the court in the case of Velson V Solomon LTD (1906) (QB 45), it was declared to be 4.
# The Seller: A buyer transacting with the seller on consumable goods was in the process of calculating the amount due, he was stucked, he then asked the seller , please what is 2+2? The seller said i don’t know but the calculator will give us an accurate result.
# The Logician: he paused for a while asked the question and then said, this probably is solvable.
# The physicist when asked declared, “it is in the magnitude of 1 x 10 ^1″.
# The Accountant: One of the senior managers of Renks Plc was stucked with some calculations, he ordered the Accountant to his office and asked the Accountant, what is 2+2? The Accountant looked at the manager once again, he chuckled, went to the door to check if no one is coming, went back to the manger’s desk and lean on it. He then replied in a low voice “what would you want it to be? This is Creative accounting (fraudulent financial reporting).
• Creative accounting refers to management attempt to fool around with its accounting in order to achieve an objective. A concept of maintaining accounts giving possibly illegal or dubious benefits to the entity for which the accounts are maintained or for personal benefit of the Top management. It may also be described as an act engaged by an accountant by exploiting his professional creativity in a negative manner, especially in fraudulent financial reporting.
• Fraudulet financial reporting: one of the types of intentional misstatements, the other which is missappriopration of asset. The International Standard on Auditing 240 defined the term Fraudulent financial reporting as ” involves intentional misstatemets, including omissions of amounts or disclosures in financial statements, to deceive financial statement users”.
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