You Canucks need to loosen those accounting standards a wee bit!From News of the Weird:• Unfortunately, Manulife Financial Corp. is a Canadian firm, and thus it had a very bad year. If exactly the same company had been magically relocated to anywhere in the United States, it would have had an outstanding year. Under Canada’s hard-nosed accounting rules, Manulife was forced to post a loss last year of $1.28 billion. However, under the more feel-good U.S. accounting rules, according to the company, it would have shown a profit of $2.2 billion and been flush with $16 billion more in shareholder value.
Hmmm Canadian banks strongest in the world, American banks......I think we should leave the accounting standards as is.Ho Ho Ho
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