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Telekom Austria: “Hyperinflation Accounting” Applicable in Belarus
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Published: December 8, 2011; 11:51 ♦ (Vindobona)
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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…
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