KGK announcement that inflation accounting will not be applied for 2021.
According to this announcement:
a) entities applying TFRS do not need to make any adjustment under TAS 29 in their financial statements for 2021, and b) for entities applying BOBİ FRS (Turkish GAAP for SMEs), the relevant provisions of Section 25 Financial Reporting in Hyperinflationary Economies have been amended in line with TFRS, so entities applying BOBİ FRS do not need to make an adjustment either.
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