Transcription of Chapter 7 Practical example of IAS 29 - ICJCE
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Example: tourism industry
Chapter 7 Practical example of IAS 29 - ICJCE
Chapter 7. Practical example of IAS 29. This section of the guide provides a detailed Under IAS 1 comparative figures of these Practical example of the application of IAS 29. statements are required to be disclosed by the The term restated' is used to describe financial reporting enterprise. statements after the application of IAS 29. The term historic' is used to describe financial This example does not cover all possible statements before restatement to current circumstances, nor does it take account of any purchasing power. This example is prepared for specific legal framework. Depending on the illustrative purposes only, income statement, circumstances, further specific information may be statement of changes in shareholders' equity and required in order to ensure fair presentation under statement of cash flows are presented for one year.
Increase in market value of trading investments (4,000) Interest income (762) Interest expense 2,000 Foreign exchange loss on financing and investing activities 14,000 Operating pro fit before changes in working capital 21,520 Changes in working capital: Increase in trade accounts receivable B.VII.6 (11,220) Increase in inventory (4,240)
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