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FRS 102: Hyperinflation under UK GAAP

FRS 102 Section 31 sets out the requirements that apply to entities with a functional currency of a hyperinflationary economy and requires financial statements to be adjusted for hyperinflation.

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The requirements relating to specific topics are set out as sections within FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.

FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.

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Example financial statements and disclosure checklists for UK GAAP available from the ICAEW Library & Information Service, Bloomsbury and other sources.

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