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Sunday, 27 October 2013

Third prize for The Silliest Statement Regarding Accounting in 2013-to-date

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Third Prize for The Silliest Statement Regarding Accounting in 2013-to-dat e is awarded to Michael Stewart, Director of Implementation Acti...
1 comment:
Tuesday, 22 October 2013

Official and parallel rate generally unify at the parallel rate

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The official and real (often the parallel) exchange rate with the US Dollar generally unify at the parallel rate. This is now happening in C...
Wednesday, 16 October 2013

IAS 29 Financial Reporting in Hyperinflationary Economies—Applicability of the concept of financial capital maintenance defined in terms of constant purchasing power units

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Interpretations Committee tentative agenda decision  The Interpretations Committee reviewed the following matter and tentatively decided ...
Monday, 14 October 2013

Congratulations to Shiller, Fama and Hansen for sharing the 2013 Nobel Prize in Economic Sciences

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Eugene F. Fama, Robert J. Shiller and Lars Peter Hansen shared the 2013 Nobel Prize in Economic Sciences for their research on how the mar...
Sunday, 13 October 2013

Accounting and Business Research Special Issue Call for Papers: The Conceptual Framework

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Accounting and Business Research Special Issue Call for Papers  The Conceptual Framework

According to the IASB financial reporting has NO EFFECT on the economy

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Financial reporting ALWAYS AFFECTS the economy since the economy is made up of economic entities and economic items and an entity has to ...

Difference between gaap and GAAP

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GAAP Generally Accepted Accounting Principles (GAAP) are fiat-based code-law criteria. Gaap Generally accepted accounting principles ...
Thursday, 10 October 2013

CMUCPP awards for the silliest statements about accounting for 2013-to-date.

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First Prize: IASB STAFF The CMUCPP award for the silliest statement about accounting for 2013-to-date is hereby awarded to the IASB Staff...
Wednesday, 9 October 2013

Unconditional Cash Transfer

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From Caracas Chronicles: extorres   says: October 7, 2013 at 10:15 am Nicolaas Smith, Juan’s post’s “free cash” is very differe...
Sunday, 6 October 2013

Prof. Steve Hanke, Your definition of hyperinflation is just nonsense.

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Prof. Steve Hanke stated: "Hyperinflation begins when a country experiences an inflation rate of greater than 50% percent per month —...

Follow me on Twitter

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Follow me on Twitter I would not follow the South African Institute of Chartered Accountants even if you paid me. — Nicolaas Smith (@Ni...
Friday, 4 October 2013

Financial reporting and financial graphs are generally misleading

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Financial reporting and financial graphs are generally misleading because of 1.The use of Historical Cost Accounting, i.e., the use of the...
Sunday, 29 September 2013

Official and unofficial Daily Index

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Official Daily CPI An official Daily CPI is a 2-, 3- or 4-month lagged, daily interpolation of the official monthly published CPI.  App...
Friday, 27 September 2013

Street vendors compared to the IASB

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Street vendors are ahead of the curve in a hyperinflationary economy. They are one of the first groups to adopt daily indexing of prices i...

Venezuela: the next Zimbabwe?

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Venezuela: the next Zimbabwe? Things are going from bad to worse in Venezuela. See Bloomberg . Would Venezuela become the next Zimbabwe?...
Wednesday, 25 September 2013

The general price level changes at least daily.

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Daily general price level in low inflationary economies: USA UK Chile Colombia Serbia Iceland The daily general price level change ...