Melki Hassa's Blog

We recognize that there are so many categories of companies, tangible vs intangible products, manufacturing vs distributors, small vs large, holding vs subsidiaries, public vs private, profit vs non-profit entities, international vs local, etc not mentioning different companies would fall into different configurations of the categories. But users of the financial statements wanted to use the financial statements to grasp the relativity of the company's state with other companies, and so, accountants are expected to have the expertise to create a financial statement that could embody the solution of this need of the information. Until now multiple accounting standards organization created their accounting standards as guidance for their members to achieve this comparability utility. However the ever-increasing magnitude of complexity and fluidity of the world, in respect to ever-changing needs, technologies, laws, market demographics, etc made me skeptical of the ability of one

In order to give users of financial statements better audit opinions in terms of Holding Companies, we could do something like this. Holding Company XYZ, list of component companies: Holding Interim Company XYZ, auditor BIG1, opinion: unqualified, Holding's Overall Balance sheet contribution 50%, Holding's Overall Revenue contribution 20%, Holding's Overall Cost contribution 20%. Company ZYX, auditor BIG2, opinion: unqualified, Holding's Overall Balance sheet contribution 40%, Holding's Overall Revenue contribution 80%, Holding's Overall Cost contribution 78%. Company NEWB1, auditor BIG3, opinion: qualified, Holding's Overall Balance sheet contribution 5%, Holding's Overall Revenue contribution 0%, Holding's Overall Cost contribution 1%. Company NEWB2, auditor BIG4, opinion: qualified, Holding's Overall Balance sheet contribution 5%, Holding's Overall Revenue contribution 0%, Holding's Overall Cost contribution 1%. Summary:

Some may think that the point of view of inclination that I've proposed defies logic in a way that good intentions or good inclinations could result in bad outcome. For example, someone who inclines to save a puppy's life ended up killing the puppy because of bad CPR. If he/she didn't administer the CPR the puppy might have survived. So the inclination to save the puppy's life is not strengthened by acting upon the inclination to save the puppy's life. So that doesn't make sense. But in that case, we must acknowledge the status quo of the hierarchy of the inclinations. And the games they play. It's like chess, there are traps everywhere. And just because we have been kept hostage for a long long time, doesn't mean ultimately the road to hell is paved with good intentions. Instead, Sooner or later, the road to hell will be completely blocked with good intentions.

Humanity has been fighting against Evil for thousands of years. Ever since "Adam and Eve" ate the fruit of good and evil, we have been fighting. How old are you? Do you really attempt to fight against thousands of years of war with your own wit, your own intelligence? In order to completely and permanently uproot power from evil, you have to pick up where we left off. And to do that we should honor the legacies of our warriors, the scientific journals, the laws, and the wisdom. Intelligence deals with knowledge known, Wisdom deals with the unknown. Stand in the shoulders of giants, be a part of the giant, Win, For the Inclination to Keep on Inclining Forever.