Implementation of the failed IAS 29 in Zimbabwe
January 17, 2013 in Uncategorized
Under IFRS-authorised Capital Maintenance in Units of Constant Purchasing Power in terms of a URV-based Daily Index, Zimbabwe´s economy would not have imploded in 2008. This model would today stabilise Belarus, Venezuela and (I am sorry, President Obama) Iran´s economy.
CMUCPP was authorised in IFRS in the original Framework (1989), Par. 104 (a), now the Conceptual Framework (2010), Par. 4.59 (a) which states:
“Financial capital maintenance can be measured in either nominal monetary units or in units of constant purchasing power.”
Nicolaas Smith Opinions on this blog expressed by me are my personal opinions. Copyright (c) 2005-2013 Nicolaas J Smith. All rights reserved. No reproduction without permission.