It has now been almost two months since leaving Tatts. Plenty has happened since, I walked the Overland Track, went on a cruise, and am now 10 days into our Singapore/Japan trip.
One of my goals while on this trip was to spend some time working through IFRS16. Whilst that may seem an odd pursuit for a holiday, this is more of a working holiday! I believe there is an opportunity in the market for a model to churn out the IFRS16 Right of Use Asset and Liability numbers, given inputs.
Each time I mention it to an accountant, it is clear it is an issue for them. The standard is a 167 page beast and it comes in on 1 January 2019, but few have solved the issue for their company. Yet, whenever I mention it to someone who doesn’t have responsibility for statutory accounting, their response is often, “Why can’t they just figure it out for themselves.”
They probably could, but for one thing: Clear Air.
Having now spent many hours reading through the IFRS16 standard and associated commentary, one thing has struck me about this task. How little time I had over the last 5 years to sit down and concentrate on one thing for an extended period of time, uninterrupted.
That clear air just wasn’t available. It is nice to have a little bit of it now.
Oh, and Kyoto is really nice. Maybe for the next blog.