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
Assets are not stated at cost per se as PricewaterhouseCoopers states. Some assets can be stated
at cost, but most are stated in terms of fair value, net realizable value, net
present value, recoverable value, etc. in terms of IFRS.
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