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Thursday, 11 July 2013

Applicability of IAS 29 No 6




IFRS Interpretations Committee Alert


9 July 2013 IFRS Interpretations Committee meeting update




Reference


IAS 29-4


Topic


IAS 29 – Financial Reporting in Hyperinflationary Economies: Applicability of IAS 29


Brief description


Request to clarify whether an entity whose functional currency is the currency of a hyperinflationary economy as described in IAS 29 Financial Reporting in Hyperinflationary
Economies needs to apply IAS 29 to its financial statements prepared under the concept of
financial capital maintenance defined in terms of constant purchasing power units rather
than nominal monetary units.


Progress



(The additional issue is currently only known to the IASB.)


23 January 2013 Interpretations Committee Meeting






+/- 15 January 2013  Agenda Item No 20 (The actual Agenda Item was not discussed with me, the submitter of the original Interpretation Request.)


26 November 2012 to 7 January 2013 Email correspondence





24 September 2012 Original  IFRIC Potential Agenda Item Request