ERRRRRARGGGH... *pant pant*

Alright! Sweet hot action of the brain.
(Cripes, I am how old and I STILL talk like this? Wicked.)

I did my last quiz, and got ONE question wrong. I hate that when that happens. I was absolutely determined that I was right and went digging deep into the text book (which I hadn't read... so really I got what I deserved).

I found out that oh - well, I am TECHNICALLY correct - within the current standards - it's just that there's this new standard (the question specifically asked for the 'new standard' on reporting 'held for trading' short term investments on a balance sheet - I really should have read the textbook) so I got it wrong. Interestingly enough however, this NEW STANDARD really doesn't comply (in my humble opinion) with the principle that the "authority" deems to be the most important of principles (that would be the conservatism principle). In fact the answer that I did give is CURRENTLY the correct answer (I applied the conservatism principle by giving the asset a Lower of Cost or Market Value, as opposed to Market Value) - up until OCTOBER 1st 2006, at which point they will install this new standard which like I said, doesn't really make all that much sense to me (hence, I really should go back and read the effing textbook).

But, like whatever. HaHA!. I am still right for like, 26 weeks - minus 2 days.