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Wednesday, 15 October 2008

Impressive advantages to just brush away.


Nicolaas Smith

Fin24

Oct 15 2008 21:46

What about the +/- R200 billion real value destroyed in retained earnings annually in the SA real economy by Chartered Accountants implementing the stable measuring unit assumption? That value will be maintained for an unlimited period of time when CA´s stop the stable measuring unit assumption. Also remember that 90% of private sector investment is funded from retained earnings. Rejecting the stable measuring unit assumption is already part of IFRS´s since it is part of The Framework (Par. 104 a )Rejecting the stable measuring unit assumption will make the hyperinflationary or high inflationary destruction of the SA real economy impossible. Impressive advantages to just brush away. I´m sure the SA government will be quite interested to hear the full story. I plan to tell them and everyone in SA the full story. http://realvalueaccounting.blogspot.com/