- Financial Reporting in Hyperinflationary Economies
- Severe Hyperinflation According to IFRS 1
- Restating Historical Cost Financial Statements under Hyperinflation Conditions
- Restating Current Cost Financial Statements under Hyperinflation Conditions
- Comparative Financial Statements
- Consolidated Financial Statements
- Other Disclosure Issues
- Economies which Cease Being Hyperinflationary
- Guidance on Applying the Restatement Approach
- US GAAP Comparison
- Appendix: Monetary Vs. Non-Monetary Items
IAS 29 addresses financial reporting in hyperinflationary economies. While, in general, this applies the same principles as are employed when using general price level accounting, the objective is to convert the financial statements of entities operating under conditions that render unadjusted financial statements of little or no value into meaningful measures of financial position and performance.
|Sources of IFRS|
|IAS 29||IFRS 1||IFRIC 7|
Financial Reporting in Hyperinflationary Economies
Hyperinflation is a condition that is difficult to define precisely, as there is not a clear demarcation between merely rampant inflation and true hyperinflation. However, in any given economic system, when the general population has lost faith in the stability of the local economy, that business transactions are commonly either denominated in a stable reference currency of another country, or are structured to incorporate an indexing feature intended ...