Hyperinflationary economies (IAS 29) (Updated July 2018)

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20 Jul 2018 PDF
Categories Other IFRS

Accounting standards are applied on the assumption that the value of money (the unit of measurement) is constant over time. However, when the rate of inflation is no longer negligible, a number of issues arise impacting the true and fair nature of the accounts of entities that prepare their financial statements on a historical cost basis.

This document sets out the basis on which we concluded that countries summarised herein are economies that are hyperinflationary for IFRS purposes as at 31 December 2018, as well as economies that are not currently hyperinflationary for IFRS purposes but should be monitored in 2018.