The most destructive requirement in IFRS authorised by the very inefficient IASB
The failed
IAS 29, the IASB´s greatest failure to date, affected the Zimbabwe economy very
negatively during hyperinflation. It was implemented during various years in
Zimbabwe´s hyperinflationary economy with no positive effect. The failed IAS 29
had a very negative effect since it encourages and requires the implementation
of the Historical Cost Accounting model during hyperinflation, the most destructive
requirement in IFRS authorised by the very inefficient IASB.
Nicolaas Smith
Opinions on this blog expressed by me are my personal opinions.
Copyright (c) 2005-2013 Nicolaas J Smith. All rights reserved. No reproduction without permission.
No comments:
Post a Comment