federal income tax purposes, a currency becomes hyperinflationary
when it has a cumulative compounded inflation rate of at least 100% over three consecutive calendar years (the base period) (Regs.
Inflation dropped below 10 percent a year and Russia launched a new ruble, shorn of three hyperinflationary
zeros and confined to a narrow exchange rate corridor at about six rubles to the dollar.
We continue to be sharply focused on our aggressive funding-the-growth initiatives and anticipate that the benefits from those programs, combined with our strategic worldwide pricing efforts, will help offset the impact of the strengthening dollar and enable us to achieve our profit target of mid-single digit earnings per share growth for the year, excluding the previously disclosed charge relating to the transition to hyperinflationary
accounting in Venezuela in first quarter 2010.
The 2007 regulations adopt the rule in the 1988 temporary regulations in providing that tax pools in foreign subsidiaries cannot be adjusted, but amended returns must be filed if a foreign subsidiary's tax liability is denominated in a hyperinflationary
O'Brien proposes a package of reforms to rein in the hyperinflationary
cost of health benefits for employees and retirees.
These include: inventories -- idle capacity and spoilage; accounting policies and changes in accounting estimates; income taxes; financial reporting in hyperinflationary
economies; joint ventures and proportionate consolidation; interim financial reporting; and research and development.
52, Foreign Currency Translation, for operations in a hyperinflationary
985-1(b)(2)(ii)(E) requires that a qualified business unit (QBU) that has elected or been required to use the dollar as its functional currency under DASTM must change its functional currency as of the first day of the first taxable year that follows three consecutive taxable years in which the currency of its economic environment, determined under paragraph (c)(2) of this section, is not a hyperinflationary
52 per diluted share) related to the transition to hyperinflationary
accounting in Venezuela as of January 1, 2010.
To make up for this, NIA's President will be featured in an exclusive NIA video later this month explaining in detail the hyperinflationary
crisis that is ahead and how NIA members can prosper while the rest of America goes broke.
After years of hyperinflationary
budget growth, the acid test for the governor and Legislature now will be to move on the significant restructuring, consolidation and reform needed to hold growth in state spending to levels that are sustainable in the long term.
24, 1994, however, E&P of a foreign corporation that operates in a hyperinflationary
currency environment is generally kept in U.