IASB proposes narrow-scope amendments on translating financial information into hyperinflationary currencies

On July 25, the International Accounting Standards Board (IASB) published an exposure draft proposing narrow-scope amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates, that are intended to address accounting issues that affect companies that translate financial information from a non-hyperinflationary currency to a hyperinflationary currency. Comments are due by November 22.

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