Overview IAS 29 Financial Reporting in Hyperinflationary Economies applies where an entity's functional currency is that of a hyperinflationary economy. The standard does not prescribe when hyperinflation arises but requires the financial statements (and corresponding figures for previous periods) of an entity with a functional currency that is hyperinflationary to be restated for the changes in the general pricing power of the functional currency. IAS 29 was issued in July 1989 and is operative for periods beginning on or after 1 January 1990. History of IAS 29 November 1987 Exposure Draft E31 Financial Reporting in Hyperinflationary Economies July 1989 IAS 29 Financial Reporting in Hyperinflationary Economies 1 January 1990 Effective date of IAS 29 (1989) 1994 IAS 29 was reformatted 22 May 2008 IAS 29 amended for Annual Improvements to IFRSs 2007 1 January 2009 Effective date of the May 2008 revisions to IAS 29 ...
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