Written by: Barbora Choi on Tue Jan 06
IAS 29 Financial Reporting in Hyperinflationary Economies
IAS 29 shall be applied to the financial statements, including consolidated financial statements, of any entity whose functional currency is the currency of a hyperinflationary economy.
"A nickel ain't worth a dime anymore."
IAS 29 is about financial reporting in hyperinflationary economies.
I also included a bit on IFRS 18 and the relationship between IAS 29 and IAS 21 The Effects of Changes in Foreign Exchange Rates (incl. the latest amendment).
Take a 15 seconds look.
headline quote by Yogi Berra, US-American baseball player.
