CONTENTS

COMPILATION DETAILS

Comparison With IAS 29

Accounting Standard

AASB 129 Financial Reporting in Hyperinflationary Economies

Paragraphs

Application Aus1.1 – Aus1.5

Scope 1 – 4

The Restatement of Financial Statements 5 – 10

Historical Cost Financial Statements

Statement of Financial Position 11 – 25

Statement of Comprehensive Income 26

Gain or Loss on Net Monetary Position 27 – 28

Current Cost Financial Statements

Statement of Financial Position 29

Statement of Comprehensive Income 30

Gain or Loss on Net Monetary Position 31

Taxes 32

Statement of Cash Flows 33

Corresponding Figures 34

Consolidated Financial Statements 35 – 36

Selection and Use of the General Price Index 37

Economies Ceasing to be Hyperinflationary 38

Disclosures 39 – 40

DELETED IAS 29 TEXT Page 12

Australian Accounting Standard AASB 129 Financial Reporting in Hyperinflationary Economies (as amended) is set out in paragraphs Aus1.1 – 40. All the paragraphs have equal authority. AASB 129 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.