This paper describes and analyses the experience of a large multiproduct and multiunit company in implementing a system of inflation accounting. Based on this analysis, suggestion for a company planning to implement a system of inflation accounting are developed. It is argued that in this non-statutory exercise the Corporate Office has to play a dominant and leading role. It is advisable to have an implementation plan detailing the timing of initiating the exercise, allocation of key tasks between Corporate Office and the Units, and a scheme for monitoring the progress of implementation.