IFRS news, January 2020

The document presents the countries that are hyper-inflationary at 31 December 2019, and those that are not hyper-inflationary at that date but that should be kept under review in 2020.

The quantitative data referred to in this document is based on International Monetary Fund data (World Economic Outlook database – October 2019). IAS 29, ‘Financial reporting in hyper-inflationary economies’, should be applied by entities with a functional currency of the countries listed (or groups with investments in entities with a functional currency of the currency of those countries) for accounting periods ending December 2019; and it should be applied as if the economy had always been hyper-inflationary.

In this issue

  • Hyper-inflationary economies at 31 December 2019
  • IFRS IC decision on IFRS 16 lease term

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