The most destructive requirement in IFRS authorised by the very inefficient IASB

January 24, 2013 in Uncategorized

The most destructive requirement in IFRS authorised by the very inefficient IASB

The most destructive requirement in IFRS authorised by the very inefficient IASB
The failed IAS 29, the IASB´s greatest failure to date, affected the Zimbabwe economy very negatively during hyperinflation. It was implemented during various years in Zimbabwe´s hyperinflationary economy with no positive effect. The failed IAS 29 had a very negative effect since it encourages and requires the implementation of the Historical Cost Accounting model during hyperinflation, the most destructive requirement in IFRS authorised by the very inefficient IASB.

Nicolaas Smith
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