Although all entities that ever used the HISTORICAL COST ACCOUNTING model during the last 100 years (i.e., almost all entities), all entities using HISTORICAL COST ACCOUNTING today (i.e., almost all entities) and all entities who will use HISTORICAL COST ACCOUNTING in the future (i.e., almost all entities), used, use and will use the units of constant purchasing power measurement basis to update some expenses, for example, salaries and wages, etc. and some prices, e.g., utility prices, mobile phone call rates, etc. on an annual basis, the IASB and IASB staff (in my personal opinion) very irresponsibly, continue to ignore it in their current proposals for measurement bases under HCA which only include:
2. Current measurement bases, namely:
(a) fair value (see paragraphs A14–A21);
(b) fulfilment value for liabilities and value in use for assets (see
IASB defines measurement bases under Historical Cost Accounting
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