In discussing performance, the IASB noted that profit is used to measure performance or as the basis for other measures such as return on investment or earning per share. The elements relating to the measurement of profit are income and expenses but the measurements of income and expenses and ultimately profit are dependent on the concepts of capital and capital maintenance use by the enterprise in preparing its financial statements. The concepts of capital maintenance, physical capital maintenance, and financial capital maintenance were defined by the IASB in a manner similar to how they were defined earlier in this chapter