Balans nr 6–7 2004

Aktuell information


Under denna vinjett kommer Balans oftast endast att publicera FARs ställningstagande till en remiss. Remissvaret finns i sin helhet på FARs hemsida, <>

D5 Comment Letters

International Accounting Standards Board

Dear Sirs,

IFRIC Draft Interpretation D5, Applying IAS 29 Financial Reporting in Hyperinflationary Economies for the First Time

In response to your request for comments, FAR, the institute for the accountancy profession in Sweden, has the following comments on the IFRIC Draft Interpretation D5, Applying IAS 29 Financial Reporting in Hyperinflationary Economies for the First Time.

FAR welcomes the information provided by Draft Interpretation D5 as it provides useful guidance with an example and therefore complements IAS 29. However, in FAR’s view, this information could be included as implementation guidance to IAS 29 instead of issuing a separate IFRIC.

Below you find our detailed comments on the Draft Interpretation D5.

Paragraph 3

We support paragraph 3, which requires the retrospective application of IAS 29. In our view, the paragraph gives clear guidance on how to apply IAS 29 when an entity identifies the existence of hyperinflation in its economy for the first time.

Although it may be concluded from IAS 29 paragraphs 15 and 34 that retrospective application is required, we find paragraph 3 valuable when applying IAS 29 for the first time.

Paragraphs 4 and 5

These paragraphs discuss how an entity should account for opening deferred tax items in its restated financial statements. We support the calculation method proposed by IFRIC in paragraph 4. To further clarify the paragraph we believe that the word ”current” in sub paragraphs (a) and (b) and the last sentence of sub paragraph (c) should be deleted. At the end of sub paragraph (b) the words ”of the current reporting period” should be added.

Paragraph 6

The interpretation in paragraph 6, regarding in which circumstances the general restatement approach does not apply, is no different from the current requirements of IAS 29 paragraphs 16 and 17 and gives no further guidance.

In our opinion, it would be valuable to add guidance that describes the meaning of the expression ”an independent professional assessment” and that exemplifies how to calculate an ”estimate based” index.

Yttrandet har avgivits av FARs redovisningskommitté