IFRS Bulletin 2021-02 – Hyperinflationary Economies for the period ended 31 December 2020
01. Februar 2021
IAS 29, Financial reporting in hyperinflationary economies applies when an entity’s functional currency is ‘hyperinflationary’.
IAS 29 requires the financial statements (including any comparative periods) to be stated in terms of the measuring unit current at the end of the applicable reporting period. This is because the currency of a hyperinflationary economies loses a significant amount of purchasing power from period to period such that presenting financial information based on historical amounts, even if only a few months old, does not provide relevant information to users of financial statement.
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