![]() This standard prescribes the guidelines which are used by the entity whose currency is the currency of the hyperinflationary economy, to restate its financial statements in the measuring unit current at the end of accounting period. In a hyperinflationary economy, reporting of operating results and financial position in the local currency without restatement is not relevant, as money loses its purchasing power at such a rate that comparison of amounts of events and transactions which have taken place at different times is misleading.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |