Applying Hyperinflationary Accounting to Turkish Subsidiaries
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2024: 2 of 14 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「From the cumulative first-quarter period, the Group has incorporated the financial statements of its Turkish subsidiary into the consolidated financial statements in accordance with IAS 29, Financial Reporting in Hyperinflationary Economies, by restating them in terms of the measuring unit current at the end of the period and reflecting the effects of inflation in Turkey.」
The application of hyperinflationary accounting under IAS 29 to the Turkish subsidiary has continued, and its impact on the consolidated financial statements for the third quarter was described as immaterial. - FY2023-Q2RestatedAnnual report
「From the cumulative first-quarter period, the Group has incorporated the financial statements of its Turkish subsidiary into the consolidated financial statements in accordance with IAS 29, Financial Reporting in Hyperinflationary Economies, by restating them in terms of the measuring unit current at the end of the period and reflecting the effects of inflation in Turkey.」
The application of hyperinflationary accounting under IAS 29 to the Turkish subsidiary has continued, and its impact on the consolidated financial statements for the second quarter was described as immaterial. - FY2023-Q1First statedAnnual report
「From the cumulative first-quarter period, the Group has incorporated the financial statements of its Turkish subsidiary into the consolidated financial statements in accordance with IAS 29, Financial Reporting in Hyperinflationary Economies, by restating them in terms of the measuring unit current at the end of the period and reflecting the effects of inflation in Turkey. For the financial statements of foreign operations in hyperinflationary economies, revenue and expenses are also translated into Japanese yen using the exchange rate at the end of the period, as required by IAS 21, The Effects of Changes in Foreign Exchange Rates. The impact on the consolidated financial statements for the first quarter was immaterial.」
From the first quarter, hyperinflationary accounting under IAS 29 and translation under IAS 21 were applied to the Turkish subsidiary. The impact on the financial statements was described as immaterial.