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People think they would like to try ballet , take a class , run into this situation , and give up in disgust - - or , worse , in despair . The material in these books is virtually indistinguishable from ballet as it is taught to-day , and a dancer of our own time could do worse than to read and follow his advice . But while the current reactions may be predictable , they nonetheless make it quite difficult to move to less complex accounting standards that rely more on principles and less on rules . It was bad enough when the boys lifted the girls and turned them slowly around so everybody in the audience could see right up their skirts ( what there was of them ) ; worse still was the sight of the boys themselves , wearing nothing below the waist except their tights , which seemed designed to leave as little as possible to the imagination . If a registrant believes our disclosure requests would result in disclosure that is not material , or worse , is redundant of other disclosure in the filing , I hope they will engage in dialogue with the staff to ensue that the user is getting the information that they need and is not being inundated with elevator music . Well , there are a few reasons that the problem now appears so much less imposing . It relates to the effectiveness and the efficiency of the work done in implementing PCAOB Auditing Standard No. 2 , An Audit of Internal Controls over Financial Reporting Performed in Conjunction with a Financial Statement Audit . Perhaps with the ongoing Microsoft concern and with the accessibility to free PDF-creation programs as well as competing programs at a much less price point , Adobe was concerned it would be left out in the rain . And I 'll bet if I asked this audience who is in favor of less complexity , everybody who is still paying attention would raise their hands . Since employee options have terms that usually extend for several years or more , we understand that some companies may be hesitant to use an implied volatility measure derived from traded options that typically have terms of 2 years or less . The registrant argued that it should " look through " the newly formed entity and consider whether the new investors of NEWCO were a collaborative group in determining if new basis was required .