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Saturday, 19 April 2008

Make the Zim experience impossible in SA

Make the destruction of the economy by high and hyperinflation impossible by banning SA accountants from assuming that money is PERFECTLY stable ONLY for the purpose of valuing CONSTANT value historical cost items, eg. retained income.

They will do it under hyperinflation because they are told to do that by the IASB.

They refuse to do it under non-hyperinflationary conditions because they are not told by the IASB to stop that silly assumption.