Hyperinflationary accounting under IAS 29 – Financial Reporting in Hyperinflationary Economies – applies to a number of entities for the interim and annual reporting periods ending on or after 31 December 2022. In times of economic uncertainty, many economies experience increased levels of inflation – and in some cases, hyperinflation. Reporting for hyperinflation presents additional challenges. For instance restatements of comparative figures, making non-standard calculations and assessing the monetary and non-monetary assets on an individual basis. The purpose of this publication is to assist you in understanding the accounting and reporting requirements under International Financial Reporting Standards as adopted by the European Union (IFRS) and the implications for the finance function entities operating in hyperinflationary economies under IFRS. If you have an entity that operates in countries with a hyperinflationary economy or has foreign operations in those countries, then please consider IAS 29 carefully and consult with your advisor as necessary. Please download the publication for more information

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Ivo van Amelsfoort
Senior Manager, Capital Markets & Accounting Advisory Services (CMAAS)
KPMG in the Netherlands