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Capital maintenance in units of constant purchasing power (CMUCPP) is the International Accounting Standards Board (IASB) basic accounting model originally authorized in IFRS in 1989 as an alternative to traditional historical cost accounting. Under CMUCPP financial capital maintenance is measured in units of constant purchasing power (CPP) in terms of a Daily CPI (consumer price index) during low inflation and deflation. It can also be measured in a monetized daily indexed unit of account (e.g. the Unidad de Fomento in Chile) and in terms of a daily relatively stable foreign currency parallel rate or daily index during high inflation and hyperinflation. The stable measuring unit assumption is never implemented under CMUCPP.〔 CMUCPP implements financial CMUCPP – as originally authorized in IFRS in the Framework (1989), Par 104 (a) (Conceptual Framework (2010), Par 4.59 (a) ) which states: "Financial capital maintenance can be measured in either nominal monetary units or units of CPP" as an alternative to the 3000-year-old generally accepted globally implemented traditional historical cost accounting (HCA) model – with differentiated variable and constant real value non-monetary items in terms of a Daily CPI which automatically maintains the real value of capital constant for an indefinite period of time in all entities that at least break even in real value at all levels of inflation and deflation – ''ceteris paribus''. Net constant item losses and gains are calculated and accounted whenever constant items are not measured in units of CPP. Variable real value non-monetary items are valued in terms of IFRS and then updated daily in terms of the Daily CPI. Historical variable items are updated in terms of the Daily CPI because there is no stable measuring unit assumption under CMUCPP. Monetary items - except current period items - are inflation-adjusted in terms of the Daily CPI since the stable measuring unit assumption is rejected under CMUCPP. Net monetary losses and gains are calculated and accounted whenever monetary items are not inflation-adjusted. CMUCPP is a daily price-level accounting model. CMUCPP automatically maintains the CPP of capital constant for an indefinite period of time in all entities that at least break even in real value at all levels of inflation and deflation (including during hyperinflation as guide-lined in IAS 29) – ''ceteris paribus'' – whether they own any revaluable fixed asset or not. CMUCPP only maintains the real value of all non-monetary items (the entire real or non-monetary economy) relatively stable when these items are valued on a daily basis in terms of a Brazilian-style non-monetary index or daily parallel rate (normally the daily US Dollar parallel rate) during hyperinflation. IAS 29 requires the restatement of Historical Cost or Current Cost period-end financial statements in terms of the period-end monthly published Consumer Price Index during hyperinflation. IAS 29 should be implemented in terms of daily valuation of all non-monetary items in units of CPP in terms of the Daily CPI which would maintain 100 per cent of current period profits constant in real value. IAS 29 thus requires the implementation of financial CMUCPP. CMUCPP was authorized in IFRS in the IASB's original ''Framework for the Preparation and Presentation of Financial Statements, Par. 104 (a)''〔()〕 in 1989. In terms of the original ''Framework, (1989)'' Par 104 (a) accountants choose CMUCPP to implement a financial capital concept of invested ''purchasing power'', i.e. financial CMUCPP at all levels of inflation and deflation instead of the traditional HC concept of invested money. They thus implement a CPP financial capital maintenance concept by measuring financial capital maintenance ''in units of CPP'' instead of traditional HC nominal monetary units and they implement a CPP profit/loss determination concept in units of CPP instead of in real value eroding nominal monetary units under HCA. Examples of constant items are issued share capital, retained income, capital reserves, all other items in shareholders´ equity, trade debtors, trade creditors, provisions, deferred tax assets and liabilities, all other non-monetary payables, all other non-monetary receivables, salaries, wages, rentals, all other items in the income statement, etc. Examples of variable items are property, plant, equipment, listed and unlisted shares, inventory, foreign exchange, etc. Variable items are valued in terms of International Financial Reporting Standards (IFRS) at for example fair value, market value, recoverable value, present value, net realizable value, etc. or Generally Accepted Accounting Principles (GAAP) during non-hyperinflationary periods. Monetary items, variable real value non-monetary items and constant real value non-monetary items are the three fundamentally different basic economic items in the economy. CMUCPP automatically maintains the real value of capital constant in all entities that at least break even in real value including banks´ and companies' capital base, for an unlimited period of time – all else being equal- whether these entities own revaluable fixed assets or not and without the requirement of additional capital from capital providers in the form of extra money or extra retained profits simply to maintain the existing constant real non-monetary value of existing capital constant. This is opposed to the traditional historical cost accounting model under which the real value of that portion of shareholders´ equity never maintained constant with sufficient revaluable fixed assets (revalued or not) are unknowingly, unnecessarily and unintentionally eroded at a rate equal to the annual rate of inflation as a result of the implementation of the very erosive stable measuring unit assumption under HCA. CMUCPP was authorized in IFRS in 1989 as an alternative to the traditional HCA model at all levels of inflation and deflation in the original ''Framework (1989)'' and is applicable as a result of the absence of specific IFRS relating to the concepts of capital and capital maintenance and the valuation of specific constant real value non-monetary items. The original framework (1989), Par 104 (a) is applicable at all levels of inflation and deflation, including during hyperinflation as specifically guide-lined in IAS 29. Discredited 1970-style CPP accounting was a form of inflation accounting which tried unsuccessfully – by updating ''all'' non-monetary items (variable real value non-monetary items and constant real value non-monetary items) equally by means of the period-end monthly published CPI in an unsuccessful attempt to correct the real value eroding effect of the stable measuring unit assumption during high inflation (but not yet hyperinflation) in the 1970´s. Under CMUCPP, all non-monetary items – constant and variable items – are updated daily in terms of a Brazilian-style non-monetary index or a hard currency parallel rate during hyperinflation. The CMUCPP model presents substantial benefits, for example, automatically maintaining banks' and companies' existing capital base constant for an indefinite period of time in all entities that at least break even in real value at all levels of inflation and deflation - ''ceteris paribus.'' Certain income statement constant real value non-monetary items, most notably salaries, wages, rentals, etc. are updated on an annual basis by means of the monthly published CPI, that is, valued or measured in units of CPP during low inflation, in most economies implementing the traditional HCA model. They are, however, thereafter paid on a monthly basis by applying the stable measuring unit assumption; i.e. they are not updated daily as done under CMUCPP. ==1970-style CPP accounting was a failed inflation accounting model== South African Institute of Chartered Accountants: "Yes, this does have conceptual appeal and was experimented with in the UK and US in the 1970s, when inflation was high. Yet the markets brushed aside the inflation-adjusted figures because:〔South African Institute of Chartered Accountants, Education and training – Discussion Forum > Small Practices > R57.984 billion real value eroded by CAs in 169 JSE listed companies, Line 6 to 14, 12 August 2008. Statement about 1970-style inflation accounting originally made by Prof. Geoff Everingham, Accounting Department, University of Cape Town, South Africa in a letter to the Financial Mail, 23 May 2008 now only accessible on prescription. Statement restated by SAICA.〕 ''International Accounting Standard'' 29, Par. 6: "In most countries, primary financial statements are prepared on the historical cost basis of accounting without regard either to changes in the general level of prices or to increases in specific prices of assets held, except to the extent that property, plant and equipment and investments may be revalued. Some entities, however, present financial statements that are based on a current cost approach that reflects the effects of changes in the specific prices of assets held."〔 The following quote from Geoffrey Whittington's〔()〕 book ''Inflation Accounting – An Introduction to the Debate'', published in 1983, reflects the above position: "Constant Purchasing Power Accounting (CPP) is a consistent method of indexing accounts by means of a general index which reflects changes in the purchasing power of money. It therefore attempts to deal with the inflation problem in the sense in which this is popularly understood, as a decline in the value of the currency. It attempts to deal with this problem by converting ''all'' of the currency unit measurement in accounts into units at a common date by means of the index." 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Constant purchasing power accounting」の詳細全文を読む スポンサード リンク
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