Confusion From the Enemy Camp

I thought of this just as we ran out of time in class, so now it must be shared the next best way: the blog postings.

As confusing as Dr. Sexson's stone dilemma was today, it has nothing on intermediate accounting. In our current chapter of 328, my accounting class is discussing how to record revenue on a project that covers multiple periods. (Our example is construction contracts)
So rather than count it evenly or even logically the powers-that-be have decided to do it in a p2c2e. Much like the stones that have a very complex and thought out process when in fact you could toss out 15 of them and just keep the one (it's as simple as that); my accounting professor explains the entire process of doing things right, teaches us how to do them wrong (so that we don't goof?), and tells us that any other process is not acceptable because. There is no reason, its just wrong because it is. Because the Financial Accounting Standards Board (FASB) tells us its wrong and if you do it that way you go to jail. You go directly to jail. You do not pass 'Go'. And you do not collect $200.

(read Comic 05, it will make you laugh)