New IFRS, Half-Way Up to 'The' Profit Formula(R)

The new IFRS (International Financial Reporting Standards) acknowledge value differences in some instances but not in all cases. Moreover, for instance under regulation IAS 16, fundamental mistakes are still allowed or even prescribed, contradictory to logic. It is never correct to enter direct mutations onto the balance sheet regardless of the profit and loss account.A new equation is available within which the balance sheet, the profit and loss account, and the statement of source and use of funds remain inter-related. The apparent antithesis between nominalism and substantialism has been bridged over. The Profit Formula(R), this basic equation of profit measurement, includes each and every capital maintenance concept and does not exclude a single concept of value. According to all reasonable profit definitions, anybody can measure profit over a randomly chosen period, of any length - quickly and easily. The Profit Formula(R) is exceptionally user-friendly. Working with this profit meter is straightforward and relatively simple. Counting and calculating are reduced to an absolute minimum via a direct way to the outcome. A tremendous amount of money can be saved with regard to administration and fringe costs, including for cases of pure nominalism (measuring fiscal profit).