Functional currency

Pampa Energía announces results for the fiscal year and quarter ended on December 31, 2020

Retrieved on: 
Thursday, March 11, 2021

As of January 1, 2019, the Company adopted US$ as functional currency for the reporting of its financial information.

Key Points: 
  • As of January 1, 2019, the Company adopted US$ as functional currency for the reporting of its financial information.
  • The presentation of this information in AR$ is converted at transactional nominal exchange rate ('FX').
  • However, Edenor (electricity distribution), Transener, TGS and Refinor (holding and others) record their operations in local currency.
  • Thus, the 2020 figures are adjusted by inflation as of December 31, 2020 (2020: 15.3% and Q4 20: 5.4%), translated to US$ at closing FX of 84.15.

PriceSmart Announces September Net Merchandise Sales

Retrieved on: 
Wednesday, October 7, 2020

Foreign currency exchange fluctuations impacted net merchandise sales negatively by 3.5%, or $8.6 million, versus the same one-month period in the prior year.

Key Points: 
  • Foreign currency exchange fluctuations impacted net merchandise sales negatively by 3.5%, or $8.6 million, versus the same one-month period in the prior year.
  • "As we embark upon the new fiscal year, we experienced growth in net merchandise sales and positive comparable sales, despite 30 club days lost in the month of September.
  • We saw improvement in net merchandise sales in our Colombian market and experienced negative comparable net merchandise sales in some markets in Central America.
  • The term "currency exchange rates" refers to the currency exchange rates the Company uses to convert net merchandise and comparable net merchandise sales for all countries where the functional currency is not the U.S. dollar into U.S. dollars.

New Bloomberg Tax Portfolio Available For Professionals Advising On Accounting For Foreign Currency Transactions And Translations

Retrieved on: 
Thursday, August 2, 2018

ARLINGTON, Va., Aug. 2, 2018 /PRNewswire/ -- Bloomberg Tax today announced the release of a new accounting portfolio, Foreign Currency Transactions and Translations, to help practitioners advising corporations and corporate accounting professionals properly account for foreign currency transactions on their financial statements.

Key Points: 
  • ARLINGTON, Va., Aug. 2, 2018 /PRNewswire/ -- Bloomberg Tax today announced the release of a new accounting portfolio, Foreign Currency Transactions and Translations, to help practitioners advising corporations and corporate accounting professionals properly account for foreign currency transactions on their financial statements.
  • Authored by James Green, a CPA with over 30 years of practical experience, which includes positions at KPMG and Arthur Andersen, Foreign Currency Transactions and Translations addresses the accounting for foreign currency transactions and translations under both U.S. GAAP and the international financial reporting standards.
  • This Portfolio provides guidance for companies to determine their functional currencies, measure and report foreign currency transactions, and translate financial statements of foreign entities by following the practical examples and guidance.
  • "Foreign Currency Transactions and Translations provides both the in-depth analysis and the real-world practical guidance that our customers rely upon to plan and comply with confidence," said George Farrah, Editorial Director, Bloomberg Tax.