Applying Hyperinflationary Accounting to Turkish Subsidiaries
First written in FY2023-Q1. 1 of 2 entries say "Restated". Latest entry: FY2023-Q2.
The whole theme swung hardest in 2024: 2 of 14 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「As the cumulative inflation rate in Turkey exceeded 100% over 3 years, we determined that the Turkish subsidiaries whose functional currency is the Turkish lira were operating in a hyperinflationary environment. Accordingly, the financial statements of the Turkish subsidiaries are being adjusted in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
Continuing to apply hyperinflation accounting under IAS 29 to the Turkish subsidiaries. - FY2023-Q1First statedAnnual report
「As the cumulative inflation rate in Turkey exceeded 100% over 3 years, we determined that the Turkish subsidiaries whose functional currency is the Turkish lira were operating in a hyperinflationary environment. Accordingly, the financial statements of the Turkish subsidiaries are being adjusted in accordance with IAS 29, “Financial Reporting in Hyperinflationary Economies.”」
Following the cumulative inflation rate in Turkey exceeding 100%, newly applied hyperinflation adjustments under IAS 29 to the financial statements of the Turkish subsidiaries.