IFRS and US GAAP authorised CMUCPP in terms of the Daily CPI automatically maintains the constant purchasing power of capital and all constant real value non-monetary items (shareholders´ equity,
provisions, salaries, wages, pensions, taxes, trade debtors/creditors, etc) only when updated daily in terms of the Daily CPI during low, high and hyperinflation and deflation - ceteris paribus. European Accounting Association: "Capital maintenance is a competing objective of financial
All HC financial reports are out of date the day after the date of the
financial report because the Daily Consumer Price Index is generally different
every day. HC financial statements are generally never published on the date of
the financial statements.
This fact is very easily understood during hyperinflation as stated by the South
African Institute of Chartered Accountants in 2008. Under IAS 29, HC or CC
financial statements are “restated” in terms of the monthly published CPI at
the balance sheet date. The stable measuring unit assumption is applied during
hyperinflation in terms of IAS 29. IAS 29 is an extension to not a departure
from HCA as stated by PwC and required by IFRS. All financial reports prepared
in terms of IAS 29 are out of date the day after the date of the financial
Under the CIPP paradigm all finacial reports are updated daily to the
current, i.e., today´s, date in terms of the Daily CPI or other daily index during
low and high inflation and deflation and hard currency parallel rate or other
daily index during hyperinflation.
Digital CIPP financial reports are never out of date: they are always
updated to the current, i.e., today´s, daily index or rate.
All digital CIPP non-monetary accounts in the ledger are never out of date:
they are always updated to the current, i.e., today´s, daily index or rate. They
are updated daily. It is better not to print
hardcopy CIPP financial reports since hard copy financial reports are out of
date the day after the date of the financial report.
HC financial reports are generally never valid in terms of the current,
i.e., today´s real values or Daily CPI. All HC financial reports are thus
technically always wrong in that sense while all CIPP financial reports are
technically always right in that sense.
All financial reports perpared in terms of IAS 29 have very little use at
all as a result of always being very out of date.
Digital CIPPA financial reports
are never out of date.