Newhuman

Hyperinflationary economies don't require "temporal then current" under US GAAP. You just do temporal method. In IFRS you restate for inflation then do current rate.



"U.S. GAAP requires a very different approach for translating the foreign cur- rency financial statements of foreign entities located in highly inflationary economies. SFAS 52 does not allow restatement for inflation, but instead requires the temporal method to translate financial statements kept in a highly inflationary currency. However, despite the use of the temporal method, the resulting transla- tion adjustment is included as a gain or loss in determining net income."