In Hyper-inflationary Economies; why do we restate the financial statements? what factors do we need to take into consideration during this process?

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Rehan Qureshi
10-January-2016

Financial Planning

Question added by Murtada Mohammed , Group Finance Manager , AgroPower Industrial Group
Date Posted: 2014/03/31

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by Mustafa abu Arja , Head of Internal Audit , Libyan Cement Co. LCC

In high inflationary economies, it is important to restructure company cost and its operating leverage. also, the exchange rate between the functional currency versus the source currency is a crucial aspect.

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In Hyper-inflationary Economies; why do we restate the financial statements? what factors do we need to take into consideration during this process?

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