IAS 29 Financial Reporting in Hyperinflationary Economies
IAS 29 Financial Reporting in Hyperinflationary Economies sets out the requirements for financial statements, including the consolidated financial statements, of any entity whose functional currency is the currency of a hyperinflationary economy.
Published July 1989. Effective 1 January 1990.
Free to view
Financial Reporting Faculty members only
How standards trackers work
Financial Reporting Faculty members get full access. Login to get the version of the standard relevant to specific time periods via eIFRS.
ICAEW members and non-members can view a brief synopsis, amendments and details of current proposals.
The financial statements of an entity whose functional currency is the currency of a hyperinflationary economy should be stated in terms of the measuring unit current at the reporting date. Comparative figures should also be restated in the same current measuring unit.
- Monetary items in the statement of financial position (balance sheet) are not restated.
- Non-monetary items are restated based on the change in the general price index between the acquisition date of the item and the reporting date.
- All items of income or expenditure in the statement of comprehensive income are restated based on the change in the general price index between the date when the items were initially recorded and the reporting date.
- The gain or loss on the net monetary position is included in net income.
Which version of the standard?
'Which version of the standard?' is only available to members of the Financial Reporting Faculty. Please note that to access electronic versions of IFRS through the links in these standard trackers you need to have first logged into eIFRS.
|Annual period starts
||Effective version of standard
||Notes on amendments|
|On or after 1 January 2016||IAS 29 2019 Required Standards
The following interpretation refers to IAS 29
This page was last updated 26 March 2019