For the love of Depreciation.

Have been away from the blog for many days for a couple of reasons. One of them is that for a long time now, I haven't found anyone or anything to mock. The world is turning into an uninterestinger place everyday... very few jokers left (thank god for IIM Bangalore).
But today I decided it's time for change. Why be so negative all the time? (We already have communists to fulfill that function) Why not honour someone for a change?
Today, i dedicate this post to the glorious profession of accounting. This is in honour of the Chartered Accountants in India.

CAs have made a great contribution to this country through their work in accounting. Ketan Parekh (who i think made crores on the stock exchange), Shekhar Kapur (makes movies), etc. <--- (this last word means that I know many such examples but choose not to share them with you). CAs also have great linguistic skills. The other day, I asked this CA colleague where he lives. He said he lives in Thane, which is considered to be in Mumbai, unless otherwise specified (section 34 of the Bombay Rent Control Act, 323 BC read with Mumbai jurisdiction rules as specified by the Registrar from time to time). I have never heard anyone speak ancient Babylonian so fast before! This holds true for all CAs. I was once umpiring for a cricket match, and had to make a narrow boundary call. The CA fielder explained that the ball fell in the area appurtenant to the rope thereto and such area, inter alia, is deemed to include the area not included (as part of custom) in the ordinary course of business in the play area for a reasonable period of time. His team won the match convincingly. Mind you, CAs are also very interesting as people. I was talking to 3 CA friends just the other day. I casually enquired about their respective passions in life. Pat came back three replies, and the variety which they encompassed was mind-boggling. Such varied interests in life in such a small group! One said section 54EC, Two said accounting standard 18 - Related Party Disclosures (I knew someone would say party!) and Three said Reduction of capital under section 100. WOW! I can go on and on in praise of this great profession, but I have to stop somewhere. Because, after I finish writing, I need to go read that newest exciting clarification published by the institute on treatment of deferred taxes in case of impairment of assets in incomplete period financial statements. This statement of mine shall not be deemed to mean, unless otherwise specified, that I do not have interests which are significantly different from, within the meaning of the General Clauses Act of 1822, those specified in the third Schedule of the Public Interest (Meaning and Interpretation) Rules, 1943. Did I mention my former profession, by the way?