EVENT DESCRIPTION
Join us for an in-depth seminar on IAS 29, the International Accounting Standard that addresses financial reporting in hyperinflationary economies. This session is tailored for finance professionals, accountants, auditors, and decision-makers seeking to understand the complexities of financial reporting under hyperinflationary conditions.
The seminar will cover the principles, application, and challenges associated with IAS 29, equipping participants with the knowledge to comply with accounting requirements and adapt their financial reporting strategies in these challenging environments.
EVENT CONTENT
1. Welcome and Introduction
- Overview of IAS 29 and its importance in global financial reporting.
- Objectives and scope of the seminar.
2. Understanding Hyperinflation
- Definition and characteristics of hyperinflationary economies.
- Identifying when an economy is hyperinflationary according to IAS 29 criteria.
3. Key Principles of IAS 29
- Restatement of financial statements:
- Non-monetary items (e.g., property, plant, equipment).
- Monetary items and their implications.
- Treatment of income and expenses.
- Determining the general price index.
4. Practical Application
- Adjusting financial statements for hyperinflation.
- Recognizing and measuring gains and losses from monetary positions.
- Real-life examples and case studies of financial reporting under IAS 29.
5. Challenges and Solutions
- Common issues faced during implementation.
- Strategies to ensure compliance and accuracy in reporting.
6. Q&A and Interactive Discussion
- Participants can ask questions and share their experiences.
- Expert advice on specific challenges faced by attendees.