Applying Hyperinflationary Accounting to Turkish Subsidiaries
First written in FY2023-Q1. 5 of 6 entries say "Restated". Latest entry: FY2024-Q3.
The whole theme swung hardest in 2024: 2 of 14 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「From the first quarter of the current consolidated cumulative period, the Group has consolidated the financial statements of its subsidiaries in the Republic of Turkey after making adjustments under hyperinflation accounting in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
The Company continues to apply hyperinflation accounting under IAS 29 to its subsidiaries in the Republic of Turkey in the third quarter, following its introduction in the first quarter. - FY2024-Q2RestatedAnnual report
「From the first quarter of the current consolidated cumulative period, the Group has consolidated the financial statements of its subsidiaries in the Republic of Turkey after making adjustments under hyperinflation accounting in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
The Company continues to apply hyperinflation accounting under IAS 29 to its subsidiaries in the Republic of Turkey in the second quarter, following its introduction in the first quarter. - FY2023RestatedAnnual report
「From the current consolidated fiscal year, the Group has consolidated the financial statements of its subsidiaries in the Republic of Turkey after making adjustments under hyperinflation accounting in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
The Company continues to apply, in its annual financial statements, hyperinflation accounting under IAS 29 to its Turkish subsidiaries, beginning in the first quarter. - FY2023-Q3RestatedAnnual report
「From the first quarter of the current consolidated cumulative period, the Group has consolidated the financial statements of its subsidiaries in the Republic of Turkey after making adjustments under hyperinflation accounting in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
The Company continues to apply hyperinflation accounting under IAS 29 to its Turkish subsidiaries, beginning in the first quarter. - FY2023-Q2RestatedAnnual report
「From the first quarter of the current consolidated cumulative period, the Group has consolidated the financial statements of its subsidiaries in the Republic of Turkey after making adjustments under hyperinflation accounting in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
The Company continues to apply hyperinflation accounting under IAS 29 to its Turkish subsidiaries, beginning in the first quarter. - FY2023-Q1First statedAnnual report
「During the first quarter of the current consolidated cumulative period, Turkey’s nationwide wholesale price index indicated that the country’s three-year cumulative inflation rate had exceeded 100%. Accordingly, the Group determined that its subsidiaries in the Republic of Turkey whose functional currency is the Turkish lira were operating in a hyperinflationary economy. The Group therefore made accounting adjustments to the financial statements of its subsidiaries in the Republic of Turkey in accordance with the requirements of IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
Following Turkey’s three-year cumulative inflation rate exceeding 100%, the Company applied hyperinflation accounting under IAS 29 from the first quarter. The inflation impact on the net monetary position of ¥170 million was included in finance costs.