08-15-2009, 05:55 PM
Dear Mr. Kamran
As you said
"Bold italic contents of IASs are the major guidelines (and not the framework) and cannot be interpretted without reading rest of explanatory portion. All paragraphs of an IAS or IFRS are the part of the standard. Yes, bold italic sets the real guideline. However, one by no means keep rest of paragraphs out of a given IFRS/IAS.
Framework of IAS/IFRS is given in all IFRS books seprately and is in fact the holy book for developing any such pronouncement. As no Hadees against Holy Quran can be accepted. Similarly no IFRS/IAS against Framework can be developed. I guess you need to study the framework."
THAT IS WHAT I AM SAYING. ALL THE EXAMPLES AND INDICATORS INTENDS TO EXPLAIN WHAT IS GIVEN IN BOLD LINES. SCENARIOS MUST BE INTERPRETED IN VIEW OF THE EXAMPLES TO CONCLUDE WHETHER IT FULFILLS THE CRITARION IN BOLD LINES.
I will give you 10 Rs, if it would have rained here yesterday.
and remember followings are the indicators of rain.
1- The temperature will be around 20 C
2- Street might be little wet.
3- Humidity will around 80 %; and
4- Aslam will not be in home today beacause he leaves home next day of the rain.
You find three things and in the light conclude whether it rained yesterday.
1- you are damn sure that it didnot rained yesterday, beacuse the 99 people living i town out of 100 told you this.
2- Aslam is not in home today
3- Temprature exactly 20 C
What is the conclusion
Your two critarias are met, but not the main and actual one.
Intentions are not hurt or humiliate. I really respect your seniority.
But please consider this
Regards
Waqas Shabbir
As you said
"Bold italic contents of IASs are the major guidelines (and not the framework) and cannot be interpretted without reading rest of explanatory portion. All paragraphs of an IAS or IFRS are the part of the standard. Yes, bold italic sets the real guideline. However, one by no means keep rest of paragraphs out of a given IFRS/IAS.
Framework of IAS/IFRS is given in all IFRS books seprately and is in fact the holy book for developing any such pronouncement. As no Hadees against Holy Quran can be accepted. Similarly no IFRS/IAS against Framework can be developed. I guess you need to study the framework."
THAT IS WHAT I AM SAYING. ALL THE EXAMPLES AND INDICATORS INTENDS TO EXPLAIN WHAT IS GIVEN IN BOLD LINES. SCENARIOS MUST BE INTERPRETED IN VIEW OF THE EXAMPLES TO CONCLUDE WHETHER IT FULFILLS THE CRITARION IN BOLD LINES.
I will give you 10 Rs, if it would have rained here yesterday.
and remember followings are the indicators of rain.
1- The temperature will be around 20 C
2- Street might be little wet.
3- Humidity will around 80 %; and
4- Aslam will not be in home today beacause he leaves home next day of the rain.
You find three things and in the light conclude whether it rained yesterday.
1- you are damn sure that it didnot rained yesterday, beacuse the 99 people living i town out of 100 told you this.
2- Aslam is not in home today
3- Temprature exactly 20 C
What is the conclusion
Your two critarias are met, but not the main and actual one.
Intentions are not hurt or humiliate. I really respect your seniority.
But please consider this
Regards
Waqas Shabbir
