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<h1>Ind AS 29: Restate Financials in Hyperinflationary Economies Using Price Index for Accurate Reporting</h1> Ind AS 29 addresses financial reporting in hyperinflationary economies, requiring entities with a functional currency in such economies to restate financial statements to reflect the current measuring unit at the reporting period's end. Hyperinflation is identified through economic indicators like the population's preference for stable foreign currencies and high cumulative inflation rates. The standard mandates restating financial statements using a general price index, affecting balance sheets, profit and loss statements, and cash flows. Gains or losses on net monetary positions are included in profit or loss. Disclosures must include the basis of restatement, price index details, and hyperinflation duration.