The IASB did not approve CMUCPP in 1989 as an inflation accounting model. CMUCPP by measuring financial capital maintenance in units of constant purchasing power incorporates an alternative capital concept, financial capital maintenance concept and profit determination concept to the Historical Cost capital concept, financial capital maintenance concept and profit determination concept. CMUCPP requires all constant real value non-monetary items, e.g. issued share capital, retained income, all other items in Shareholders Equity, trade debtors, trade creditors, deferred tax assets and liabilities, taxes payable and receivable, all items in the profit and loss account, etc. to be valued in units of constant purchasing power on a daily basis. Variable real value non-monetary items, e.g. property, plant, equipment, listed and unlisted shares, inventory, etc. are valued in terms of IFRS and updated daily.