This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRIC issues draft interpretation on hyperinflationary reporting

  • IFRIC (International Financial Reporting Interpretations Committee) (blue) Image

11 Mar 2004

IAS 29 'Financial Reporting in Hyperinflationary Economies' requires that the financial statements of an entity that reports in the currency of a hyperinflationary economy must be stated in terms of the measuring unit current at the balance sheet date.

Comparative figures for prior period(s) should be restated into the same current measuring unit.

The IFRIC has released Draft Interpretation D5, Applying IAS 29 Financial Reporting in Hyperinflationary Economies for the First Time, which contains guidance on how an entity would restate its financial statements in the first year it identifies the existence of hyperinflation in the economy of its functional currency. Comment deadline is 14 May 2004.

Click for:


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.