ias29 - IAS 29 International Accounting Standard 29...

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IAS 29 © IASCF A641 International Accounting Standard 29 Financial Reporting in Hyperinflationary Economies This version includes amendments resulting from IFRSs issued up to 31 December 2009. IAS 29 Financial Reporting in Hyperinflationary Economies was issued by the International Accounting Standards Committee in July 1989, and reformatted in 1994. In April 2001 the International Accounting Standards Board resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. Since then, IAS 29 has been amended by the following IFRSs: •I A S 2 1 The Effects of Changes in Foreign Exchange Rates (as revised in December 2003) A S 1 Presentation of Financial Statements (as revised in September 2007) * Improvements to IFRSs (issued May 2008). * The following Interpretation refers to IAS 29: F R I C 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies (issued November 2005). * effective date 1 January 2009
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IAS 29 A642 © IASCF C ONTENTS paragraphs INTERNATIONAL ACCOUNTING STANDARD 29 FINANCIAL REPORTING IN HYPERINFLATIONARY ECONOMIES SCOPE 1–4 THE RESTATEMENT OF FINANCIAL STATEMENTS 5–37 Historical cost financial statements 11–28 Statement of financial position 11–25 Statement of comprehensive income 26 Gain or loss on net monetary position 27–28 Current cost financial statements 29–31 Statement of financial position 29 Statement of comprehensive income 30 Gain or loss on net monetary position 31 Taxes 32 Statement of cash flows 33 Corresponding figures 34 Consolidated financial statements 35–36 Selection and use of the general price index 37 ECONOMIES CEASING TO BE HYPERINFLATIONARY 38 DISCLOSURES 39–40 EFFECTIVE DATE BASIS FOR CONCLUSIONS FOR THE ACCOMPANYING DOCUMENT BELOW, SEE PART B OF THIS EDITION
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IAS 29 © IASCF A643 International Accounting Standard 29 Financial Reporting in Hyperinflationary Economies (IAS 29) is set out in paragraphs 1–41. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 29 should be read in the context of the Basis for Conclusions, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
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IAS 29 A644 © IASCF International Accounting Standard 29 Financial Reporting in Hyperinflationary Economies * Scope 1 This Standard shall be applied to the financial statements, including the consolidated financial statements, of any entity whose functional currency is the currency of a hyperinflationary economy.
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ias29 - IAS 29 International Accounting Standard 29...

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