# ASC 255-10-45: Changing Prices — Overall — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

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## ASC 255-10-45: 45 Other Presentation Matters

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##### [255-10-45-1](https://asc.understandingaccounting.org/asc/255/10/#255-10-45-1)

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This Subtopic provides guidance on encouraged disclosures on the effects of changing prices. For that reason, the guidance that describes how to present the disclosures is included in Section 255-10-50 rather than this Section.

#### Price-Level Adjusted Financial Statements for Certain Entities in Highly Inflationary Economies

##### [255-10-45-2](https://asc.understandingaccounting.org/asc/255/10/#255-10-45-2)

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The degree of inflation or deflation in an economy may become so great that conventional statements lose much of their significance and general price-level statements clearly become more meaningful. Although this is obvious with respect to some countries, the degree of inflation or deflation at which general price level statements clearly become more meaningful depends on the circumstances.

##### [255-10-45-3](https://asc.understandingaccounting.org/asc/255/10/#255-10-45-3)

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This Subtopic permits a comprehensive application of price-level adjusted financial statements (to the extent such presentation is not inconsistent with guidance in this Subtopic regarding [historical cost-constant purchasing power accounting](https://asc.understandingaccounting.org/glossary/h/#historical-cost-constant-purchasing-power-accounting "A method of accounting based on measures of historical prices in units of a currency, each of which has the same general purchasing power."), such as the classification of assets and liabilities as monetary or nonmonetary) in presenting the basic foreign currency financial statements of entities operating in countries with highly inflationary economies if the statements are intended for readers in the United States.

##### [255-10-45-4](https://asc.understandingaccounting.org/asc/255/10/#255-10-45-4)

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This guidance applies only to statements prepared in the currency of the country in which the operations reported on are conducted. Only conventional statements of foreign subsidiaries should be used to prepare historical-dollar consolidated statements.