Alp SuleimanGrowth Partner

Inflation Accounting (IAS 29)

Inflation Accounting

Restating financial statements into the purchasing power at the end of the reporting period in hyperinflationary economies. According to the KGK announcement, in Turkey the financial statements of entities applying TFRS and BOBİ FRS for periods ending on or after 31 December 2023 are presented restated under TMS 29 (BOBİ FRS Section 25); sector regulators may set a different transition date.

Real Growth and CashTerm 55 / 81

In practice

TMS 29 restates the statements; it does not calculate growth, and restated accounts do not replace a real growth analysis in management reporting. Scope is not everyone either: entities outside those frameworks are not covered. Tax rules (VUK) are a separate regime, so do not mix the two.

Sources

  1. 1.KGK: Inflation Accounting Announcement (Turkish)
  2. 2.IFRS Foundation: IAS 29

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