USJ Business School is proud to highlight the latest research of our colleague, Pr Mona Said Boustany, examining the relevance of financial statements for companies operating in hyperinflationary contexts, with a focus on Lebanon (1999–2023).
The study shows that historical cost accounting often misrepresents economic reality, while IAS 29 adjustments provide more reliable financial data, though their use remains limited due to regulatory gaps. Findings also reveal that stakeholder confidence is affected by ongoing economic volatility.
The research calls for stronger local accounting standards and regulations to better support businesses during periods of extreme inflation.
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