31-07-2025

The Unified Argentine Accounting Standard (“NUA”.) is a technical resolution that establishes the guidelines for the preparation and presentation of financial statements in Argentina. It consolidates and updates several previous technical resolutions, simplifying and improving the clarity of Argentine accounting regulations.

It was approved by the Argentine Federation of Professional Associations in Economic Sciences (FACPCE) through Technical Resolution No. 54.

The NUA is mandatory for financial statements for fiscal years beginning on or after January 1, 2025, although early adoption is permitted for fiscal years starting on or after July 1, 2024. It includes detailed criteria for classification, offsetting, discontinued operations, and disclosures in notes.

In general terms, the standard provides clear general rules for the structure and presentation of financial statements, including the balance sheet, income statement, statement of changes in equity, and cash flow statement. It sets out criteria for recognition, derecognition, measurement, presentation, and disclosure of items, with an emphasis on clarity, relevance, and comparability, including the consistent application of accounting policies and the treatment of changes and errors. The standard allows for certain treatments to be omitted when the cost or effort involved is disproportionate, subject to strict evaluation and mandatory disclosure.

Entities are classified into small, medium, and other categories, based on revenue thresholds (quantitative condition) and specific characteristics (qualitative conditions). The revenue thresholds will be published by FACPCE.

The standard includes provisions for evaluating the going concern principle and its impact on financial statement preparation.

Regarding cost measurement, the standard covers acquisition, production, and development, incorporating reasonable direct and indirect costs and, when applicable, financial costs. It defines methods for current value measurement such as replacement cost, fair value, and net realizable value.

For explicit and implicit financial components, specific rules are established. Small entities may choose not to separate certain components.

The standard governs the recognition of contingent events and comparison with recoverable value for significant assets, setting out criteria for impairment losses and possible reversals, adapted according to the entity category.

For inventories, measurement may be based on replacement cost, most recent purchase cost, or acquisition cost, with the option to use inventory differences.

In inflationary contexts, financial statements must be restated in closing purchasing power currency using the FACPCE index. The NUA. unifies the inflation adjustment process by incorporating concepts and guidelines previously included in FACPCE’s application guides on inflation adjustment (T.R. 6 and IAS 29), covering initial application, interruption, and resumption of the method. Regarding presentation, financial and holding results may be shown separately or combined.

T.R. 54 uses the term “probable” for the recognition of assets and liabilities, instead of “high probability.” For practical purposes, an event is considered probable if the likelihood of occurrence exceeds 50%.

Each category/item includes specific criteria for recognition, measurement, derecognition, presentation, and disclosure, with simplified requirements and disclosures for small and medium-sized entities. For example:

• Financial investments are recognized and measured according to active markets or intent to trade, with impairment indicators and recognition of losses or reversals.

   

• Property, plant, and equipment may be measured at cost or revaluation model, and are depreciated systematically.

   

• Intangible assets are amortized over a defined or indefinite useful life and evaluated for impairment.

   

The standard distinguishes between certain liabilities (debts) and provisions, establishing rules for their recognition, measurement, derecognition, and presentation.

Equity includes capital contributions, share premiums, retained earnings, and deferred results, with detailed recognition and presentation guidelines.

For revenue recognition, it is based on the completion of the transaction and the transfer of control or service delivery, measured at the agreed price, with specific considerations for services, construction, and intermediary activities. Simplifications are provided for small and medium-sized entities.

Key concepts and criteria are established for the recognition of current and deferred income tax. Small entities may recognize only current tax (omitting deferred tax), and medium entities may also do so if the cost is disproportionate. Measurement is at nominal value, with net presentation when a legal right to offset exists. The expense is shown in the relevant section of the income statement. Exceptions, discounted measurement, recognition limits, and detailed disclosures are regulated.

Other relevant topics include:

Onerous Contracts and Leases

Definitions are provided for onerous contracts, finance leases, and operating leases. The standard governs contractual modifications, presentation, and note disclosures, with exceptions for small and medium-sized entities.

Government Grants and Assistance

Government assistance and grants—including forgivable loans—are defined, with recognition of income upon receipt or when it becomes probable. Liabilities are recognized if future conditions exist. Measurement varies according to the nature of the grant, and presentation may be as liabilities or income, with policy and contingency disclosures.

Employee Benefits and Other Specific Topics

Recognition, measurement, presentation, and disclosure criteria are provided for post-employment and long-term benefits, distinguishing between defined contribution and defined benefit plans. Actuarial techniques and net liability recognition are applied. Standards also cover business combinations, derivative instruments and hedging, agricultural activity, financial statements of non-corporate joint ventures, and transition provisions for adopting the technical resolution.

A glossary is included to clarify key terms and ensure proper application of the standards.

Adaptations are contemplated for non-profit entities and interim periods.

Procedures are established for the preparation of consolidated financial statements, including the definition of control, elimination of intercompany balances, and treatment of non-controlling interests (with revised presentation in the consolidated balance sheet). Joint ventures are regulated, distinguishing between corporate and non-corporate entities, with specific criteria for identification, classification, and accounting. Investments in subsidiaries, associates, and corporate joint ventures must follow rules on recognition, measurement, derecognition, recoverable value comparison, presentation, and disclosure, using the proportional equity method.

In conclusion, with the aim of aligning more closely with international standards—and following extensive work to organize and harmonize the existing regulations—the NUA. serves as a comprehensive guide for financial information preparers and economic science professionals. It is a valuable tool that compiles procedures applicable at various stages of an entity’s operations, depending on its classification, and improves the quality, clarity, and substance of the financial statement components. Ultimately, it ensures that users receive clear, well-structured, and fully disclosed information to support informed decision-making.

Useful Links:

• T.R. 54 to T.R. 59 (Full Text):
  https://www.facpce.org.ar/NORMASWEB/download_file.php?e=pdf&f=1593&t=RESOLUCI%D3N%20T%C9CNICA%20N%B0%2054

• Model Financial Statements (For-Profit Entities):
  https://www.facpce.org.ar/NORMASWEB/download_file.php?e=pdf&f=1588&t=%20INFORME%20N%BA%2027

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