31 Billion USD in shareholder value destroyed annually by Dow companies - and they don´t even know about it.
RealValueAccounting.Com(The Book) – The Next Step In Our Fundamental Model of Accounting.
RealValueAccounting.Com is based on the IASB´s International Standards with the exception of ONE assumption, ONE Standard and ONE definition.
LISBON, PORTUGAL – Dec. 06, 2005 – The first work of its kind, RealValueAccounting.Com is based on a new analysis of the way inflation, hyperinflation and deflation manifest themselves in our economies. It identifies inflation’s, hyperinflation’s and deflation’s second component under the Historical Cost Accounting paradigm, exposes and calls for the annulment of a fundamentally flawed and illogical International Accounting Standard and reveals Dow companies´ 31 Billion Dollar a year accounting policy loss. RealValueAccounting.Com published this month by RealValueAccounting.Com™ (paperback Euro 25.00; 235 pages), implements Real Value as a basis of measurement as opposed to the 700 year old very destructive stable measuring unit assumption, stops one complete component of inflation, hyperinflation and deflation forever and maintains the real value of constant real value non-monetary items for an unlimited period of time.
South African born Nicolaas J Smith started working on the book 10 years ago during a two and a half year working experience in the hyperinflationary Angolan economy.
According to Dr Cemal KÜÇÜKSÖZEN, Head of the Accounting Standards Department at the Capital Markets Board of Turkey: “Theoretically, I totally agree with you. But, as you know, there is a trend toward the acceptance of International Accounting Standards and International Financial Reporting Standards issued by the International Accounting Standards Board all over the world.
In this regard, we can change over to Real Value Accounting when there is a change in IAS/IFRS toward Real Value Accounting or there is a trend toward Real Value Accounting all over the world.”
RealValueAccounting.Com directly challenges the basic elements of the Historical Cost Accounting model.
• It challenges the European Central Bank’s definition of price stability.
• It formulates a new definition of monetary items quite different from the one issued by the International Accounting Standards Board.
• It calls for the stable measuring unit assumption – the cornerstone of the global Historical Cost Accounting model – to be revoked.
- Contact Information
- Nick Smith
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