Inflation accounting practices in Turkey have a turbulent past. Inflation accounting, which was last used in 2004, was not brought back to the agenda until 2021. However, as a result of the increasing inflation since 2021 and the negative reflections of this situation on the financial statements, many economists, academics and experts have taken action and brought to the agenda the need to reconsider inflation accounting. At the end of 2023, it was announced to the public that inflation accounting will be implemented again and legal regulations will be made in this regard. In inflationary periods, businesses face problems such as the value of their assets being considered lower compared to the market value and the profitability level being shown higher than it actually is. This situation causes fictitious profits and increases the tax burden that businesses are obliged to pay. With the reimplementation of inflation accounting practices, these fictitious profits that emerge are normalized with various inflation adjustment methods, and financial statements are presented in a more transparent and realistic way. The purpose of this study is to reveal how inflation accounting, which has been put into practice again after a long break, will be applied and its effects on businesses. In this study, information on inflation and inflation accounting is given; the calculation methods of the coefficients used in the corrections in accordance with the circular on inflation accounting, how the corrections are reflected in which financial tables and account items, and the accounting records of these transactions are explained through a sample application.