IA glossary terms

Browse full definitions for every IA term in the Amicus glossary.

Ias 21

/ˌaɪ.eɪˈɛs.twɛntiː wʌn/

Definitions

  1. (n.) An International Accounting Standard issued by the IASB that prescribes the accounting treatment for foreign currency transactions and operations.
    According to IAS 21, foreign currency transactions must be reported using the exchange rate at the date of the transaction.

Forms

  • ias 21

Related terms

See also

Commentary

IAS 21 is fundamental for ensuring consistency in accounting for foreign currency effects in multinational corporations' financial reporting.

Ias 29

/ˌaɪˈeɪˈɛs ˈtwɛnti naɪn/

Definitions

  1. (n.) An International Accounting Standard prescribing the financial reporting requirements in hyperinflationary economies.
    Companies applying IAS 29 must restate financial statements to reflect current purchasing power.

Forms

  • ias 29

Related terms

See also

Commentary

IAS 29 specifically addresses the challenges of financial reporting in hyperinflationary contexts, guiding how to adjust numbers to preserve comparability and relevance.

Glossary – IA Terms