Hosted on MSN19d
FRC clarifies position on IAS 29 for hyperinflationary economies
IAS 29 outlines financial reporting requirements for entities in hyperinflationary economies but does not explicitly define when hyperinflation occurs. Instead, it provides indicators, such as a ...
Vanguard19d
Hyperinflationary economy, IAS 29 reporting not applicable to Nigeria — FRC
The Financial Reporting Council, FRC, has explained that Nigeria has not gotten to the point of hyperinflationary economy, adding that International Accounting Standards, IAS 29, is not necessary in ...
The Punch Newspapers23d
Nigeria not hyperinflation economy – FRC
According to Deloitte, IAS 29 applies where an entity’s functional currency is that of a hyperinflationary economy. The standard does not prescribe when hyperinflation arises but requires the ...