In countries of Latin America:

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Accounting standards in Latin America place a strong emphasis on accounting for high inflation situations, as many countries in the region have experienced high levels of inflation in the past. This includes adjusting financial statements for the impact of inflation and using inflation-adjusted measures for certain financial ratios. While accounting practices may also provide information to investors and creditors, and banks may be a primary source of financing, these factors are not specific to Latin America and do not necessarily distinguish accounting practices in the region. Governmental planners may use accounting information as well, but this is not the primary focus of accounting practice in the region. Recent market economy reforms may impact accounting practices, but this is not necessarily the primary focus.

In Countries of Latin America