Current method (Hyperinflation): Page- 266, Example-7 in the curriculum

CFA Level II
#1

Sorry, moderator- for some reason i cant see my post that i posted yesterday so posting it again:

It seems to me that when current method is applied in hyperinflation condition (Page- 266, Example-7 in the curriculum), then one needs to translate the Balance Sheet first and then the IS

However, in the normal cases, Current Method requires you to translated IS & RE first (Page-249 in curriculum) and then the Balance Sheet.

Does the above sounds correct ?

#2

This is schweser’s typo.

Current exchange rate is applied instead of current rate method in hyperinflation condition.

#3

Not sure what you mean- Yes in current method we apply current rates

Sorry but all the pages above are from CFA curriculum…including the examples…

#4

Anybody?? S2000

thx

#5

I think that under hyperinflation in IFRS you need to translate the non monetary assests/liablities and then use current rate method.