To the Point - Argentina’s economy considered highly inflationary under US GAAP

12 Jul 2018 PDF
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All of the three-year cumulative inflation rates commonly used to evaluate Argentina’s inflation currently exceed 100%. As a result, we expect entities to conclude that Argentina’s economy is highly inflationary under US GAAP no later than 30 June 2018. Because an economy is accounted for as highly inflationary beginning on the first day of the reporting period following the period in which the economy becomes highly inflationary, calendar-year entities that prepare quarterly interim financial statements with operations in Argentina have to begin applying the guidance on highly inflationary accounting no later than 1 July 2018.

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