Excellent point. I strongly prefer IFRS over US GAAP, for exactly your reasons. IFRS tends to favor principles, GAAP tends to favor rules. The ideal (IMHO) is

Excellent point. I strongly prefer IFRS over US GAAP, for exactly your reasons. IFRS tends to favor principles, GAAP tends to favor rules. The ideal (IMHO) is to improve the principles and rules together, and Apple is in a unique leadership position to do this.