Dear everyone:
I have a question, when traslating financial statement items from subsidiaries in the Hyperinflation Countries, under the IFRS, IASB allow us to make adjustment for inflation before translating (apply for nonmonetary items and the income statement items). Why they apply this translation on revenue? Revenue is calculated by using sold price and the quatity of product sell, so the sold price has already automatically adjust for the inflation and just like monetary items. I couldn’t get their point at this case.
Your support will be greatly appreciated.