Capital Maintenance in Units of Constant Purchasing Power™

The IASB does not understand the difference between

1. financial statements measured in constant purchasing power unit (Agenda Paper 20)

and

2. financial statements prepared under the concept of financial capital maintenance in constant purchasing power units. (Paper Topic)

The proofs are in the links.

The IASB does not understand that financial statements prepared under the concept of finacial capital maintenance in constant purchasing power units is very, very, very different from financial statements measured in constant purchasing power units.

Agenda Paper 20 contains 16 errors / problems / disagreements with the submitter.

As can be seen from the links, the IASB uses the two different descriptions of two different concepts for Agenda Paper 20.

Nicolaas Smith

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