Jesus said "Take therefore no thought for the morrow: for the morrow shall take thought for the things of itself. Sufficient unto the day [is] the evil thereof." ( http://www.blueletterbible.org/Bible.cfm?b=Mat&c=6 , 2013) Don't worry about tommorow At first I thought about this verse, I thought, should we throw all of our businesses away? If it were personal riches then it's debatable, but throwing away our businesses away? Wouldn't that be absurd, cause businesses are helping people. Well still figuring out that now, but I realize that Jesus wasn't only talking about personal wealth. But also about the wealth of the community, a country. Jesus was talking about how we about to do about our money. We have to admit, we are now liable to hyperinflation. Because we have the right to spend all of our money in the bank as well as other people. And if we were forced to do that all at the same time, then the economy would collapse. But we have the rig
Why aren't all liabilities recognized at their risk free rate or discounted risk free rate. And the difference between the amount and the actual cash received recognized as a separate item?
So using a little bit more complex program, we could have a financial statement that has the option to transform accordingly to the discipline the users are opting to view. People can choose whether to use IFRS, or other standards or even own company's standard. Ever since the market valuation of assets were introduced, the way financial statements help its users became more "quantum position" like. The Balance Sheet or Statement of Financial Position seem to have a really relative interpretation and In the past I wanted to value the assets based on the PV of the asset's projected cash flow at the risk free rate projected as a balance sheet. Therefore it would be great to have a financial statement that could accommodate multiple perspectives.
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