Archive for August, 2008

Previously, I posted a topic about whether the United States would adopt the international accounting standards (IFRS) since there have been numerous problems surrounding these issues. Just this week, the US SEC has approved for public comments its proposed “roadmap” for conversion to IFRS for public companies in the US. The proposal suggests US public companies begin reporting IFRS in 2014 (still six years from now), with full conversion to occur by 2016!

This decision of the US SEC is vital in the state of global economy at the moment. It is important for financial reporting language to be consistent all around the world to benefit investors and promote market efficiency as IFRS encourage more transparency. This will also increase comparability of companies from one country to the other.

It is interesting to note however that the US SEC approves this conversion in the middle of the credit crisis. Is this one of the responses of the US government to the recession?

Last weekend, my friends and I went on a 2-day road trip from Sydney to the Snowy Mountain Range! The idea of this adventure began three days before I was suppose to fly back to my home city of Perth after spending 3 weeks in Sydney.

The Snowy Mountains are the highest mountain range in mainland Australia where large snows fall every winter. It is the only part of the mainland Australia where constant snowfalls happen every winter season.

A breakfast stopover at Wollongong City 2.5hours from Sydney. It’s name means “songs of the seas” in the Aboriginal language!

The journey continues with a climb to the mountains from the beautiful beaches of Wollongong with the company of our great friend “Tomtom” the satellite navigation device. Without Tomtom we would not be able to reach our destination!

A long and winding road.

At 7pm, after a one day of driving we finally reached our final destination – Perisher Blue – Australia’s biggest ski resort! It was a long day but it was worth the time and effort after experiencing the first glance of snow fall in the freezing cold night!

And now time for a ski!

I would like to recommend to everyone to visit the Australia’s Snowy Mountains and experience the skiing adventure. It should be on your list of things to do before you reach the age of 30!