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Tuesday, 5 May 2015

IASB bluntly rejects Latin America´s request for Capital Maintenance in Units of Constant Purchasing Power during low inflation.

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"IASB Update   The IASB met in public from 27-29 April 2015 at the IASB offices in London, UK. One of the topics for discussion was Hig...
Monday, 26 January 2015

Price stability requires daily indexation

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Price stability is an important concept in economics. It is defined in a slightly different way by each and every central bank. Each central...
Wednesday, 21 January 2015

Completely ignorant IASB and FASB members mean perpetual bad luck for Venezuela

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Arepa (a Venezuelan national delicacy) prices are following the (daily) US Dollar black market rate in Caracas: Comment from  BoludoTejano...
Wednesday, 7 January 2015

Effect of deflation eliminated by daily deflation-indexing of entire money supply

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Only the effect of deflation would be eliminated from all un-adjusted monetary items when the entire un-adjusted money supply is deflation-a...
Thursday, 18 December 2014

Don´t be fooled by Swiss negative interest rate

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Swiss National Bank introduces NOMINAL negative interest rate of -0.25% during deflation of 0.10% which is a POSITIVE REAL interest rate of...
Sunday, 16 November 2014

Inflation and deflation would have no effect on the economy ...

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Inflation (low, high and hyperinflation) and deflation would have no effect on the economy when all items expressed in terms of money are in...
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Sunday, 9 November 2014

Three measurement bases in IFRS

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Very interestingly the same three measurement bases are used under both Historical Cost Accounting and its alternative authorized in IFRS, ...
Saturday, 8 November 2014

Measurement Bases under the IFRS Units of Constant Purchasing Power Paradigm

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MEASUREMENT BASES There are three economic items in the economy. 1. MONETARY ITEMS Definition: Monetary items are all items in the mone...
Thursday, 6 November 2014

SAICA’s members use IFRS as an excuse to hide inefficiencies

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The following article appeared in Business Day on 20 September 2007 :  “South African Institute of Chartered Accountants (Saica) ex...
Wednesday, 5 November 2014

Criticisms of IFRS

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1. IASB refusal to require Daily Indexing in IAS 29 IAS 29 Financial Reporting in Hyperinflationary Economies , which gives guidance rega...
Sunday, 2 November 2014

Bitcoin´s Achilles´ heel

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The bitcoin dream: if only it could be money. Imagine! Why is bitcoin not money? Because its price in terms of real currencies is not rela...
Friday, 31 October 2014

Silliest statements in accounting

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"Measuring items in units of constant purchasing power makes no difference to the economy." Prof Geoff Everingham University o...
Thursday, 30 October 2014

Welcome to the IASB

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EVERYONE IN THE WORLD ECONOMY who today implements HISTORICAL COST ACCOUNTING uses the units of constant purchasing power measurement basis ...

IASB continues to ignore Units of Constant Purchasing Power under HCA

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Although all entities that ever used the HISTORICAL COST ACCOUNTING  model during the last 100 years (i.e., almost all entities), all entit...
Sunday, 26 October 2014

Use of Daily CPI in IAS 29 compliant with IFRS

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IAS 29 Financial Reporting in Hyperinflationary Economies has been implemented since its authorization in 1989 in terms of the monthly publi...
Saturday, 25 October 2014

IASB defines measurement bases under Historical Cost Accounting

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HISTORICAL COST ACCOUNTING The IASB mistakenly decided to recognize only the following two measurement bases under the Historical Cost Acc...
Friday, 24 October 2014

Historical Cost Accounting versus Capital Maintenance in Units of Constant Purchasing Power™

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"Double-entry accounting is one of the greatest inventions of the human mind." Wolfgang Goethe  DOUBLE-ENTRY ACCOUNTING MODELS ...