Thus: IFRS have authorized in 1989 what Chilean companies have been doing since 1967; namely, financial capital maintenance in units of constant purchasing power in terms of a daily index.
It is very unfortunate when countries which actually had been implementing financial capital maintenance in units of constant purchasing power stop that, simply as a result of a general lack of appreciating the very erosive effect of the stable measuring unit assumption (which everyone mistakenly blames on inflation) in the economy – especially by the IASB and FASB.
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