The IASB does not understand the effect of CMUCPP in terms of a daily index. Basically, the IASB does not understand CMUCPP as implied in IAS 29. In January 2013 an IASB staff paper stated:
"10. Under current IFRS, there is no particular guidance on how to prepare financial statements stated in constant purchasing power units."
IAS 29 prescribes how to restate HC or CC financial statements in terms of the measuring unit current at the end of the reporting period.
Only the IASB does not understand that as stated above. PricewaterhouseCoopers, the World Bank and other Big Four audit companies published papers on how IAS 29 gives guidance on how to restate financial statements in terms of the measuring unit current at the end of the reporting period.
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