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Telekom Austria: “Hyperinflation Accounting” Applicable in Belarus

Published: December 8, 2011; 11:51 · (Vindobona)

The Austrian telecommunication group will have to make inflation adjustments for its local subsidiary Velcom.

Telekom Austria: “Hyperinflation Accounting” Applicable in Belarus / Picture: © Telekom Austria Group

The Telekom Austria Group informed that the four big audit companies have decided that “hyperinflation accounting” according to IAS 29 will be applicable for Belarus in the fourth quarter 2011.

The implementation of “hyperinflation accounting” will affect various items of the company’s financial statements as of 31 December 2011 and all periods thereafter for the…

This article includes a total of 314 words.

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