“…However, in 1995, this law was overruled with the enactment of Act n. 9,249/19959,249/ (Brazil, 1995. The issue has been quite widely debated by Barbieri (1996), Martins (1982Martins ( , 1984aMartins ( , 1984bMartins ( , 1985Martins ( , 2002Martins ( , 2004, Santos (2001aSantos ( , 2001bSantos ( , 2002, and Santos and Barbieri (1990). Other Brazilian studies such as those from Brunéli (1987), Feitosa (2002, Gabriel, Assaf, and Corrar (2003), Salotti, Lima, Corrar, Yamamoto, andMalacrida (2006), andSzuster (1985), and international ones such as those from Baran, Lakonishok, and Ofer (1980), Davis-Friday (2001), and Gordon (2001), have shown the importance of recognizing inflation in accounting statements.…”