Accounting in Argentina

Overview by

Accounting System

Accounting Standards
Argentina is inspired by the American model for company accounting, but with some nuances.
Accounting Regulation Bodies
Contaduria General de la Nación, Website of the Argentinian Treasury.
Federación Argentina de Consejos Profesionales de Ciencias Economicas, Organization responsible for accounting technical standards: the Argentine federation of economic sciences professional councils.
Accounting Law
Law # 19.550, 3rd April 1972.
Difference Between National and International Standards (IAS/IFRS)
There is no obligation to follow international standards, but some companies oblige themselves (for example in the telecommunications industry).
Accounting News
International Tax Review.
EIN News.

Accounting Practices

Tax Year
The tax year begins on 1 January and finishes on 31 December of the same year.
Accounting Reports
All commercial companies in Argentina have to draw up certain accounting documents yearly:
- the journal
- the ledger
- the follow up of stock evolution.
Companies are obliged to draw up a balance sheet and a profit and loss account, and to submit them annually for approval by auditors from within or outside the company.
Publication Requirements
Reporting is carried out annually.

Accountancy Profession

Le contador auditor (chartered accountant) manages the accounting and certifies it within the company.
Le Contador Publico independiente (auditor) certifies the accounts of the contador auditor.
Professional Accountancy Bodies
Professional Council of Economic Sciences, Accounting professionals
Contador Publico, Auditors.
Argentine Federation of Economic Sciences Professional Councils, Advisory professionals.
Member of the International Federation of Accountants (IFAC)
The Argentine Federation of Economic Sciences Professional Councils is a member of IFAC.
Member of Other Federation of Accountants
Argentina is a member of the Association of International Accountants.
Audit Bodies
The companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organization.
You can contact an external auditor: KPMG Argentina ; Deloitte (in Spanish) ; Price Waterhouse Cooper.

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