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ACCUMULATED OTHER COMPREHENSIVE LOSS | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | NOTE 16 - ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive loss includes net loss and foreign currency translation gains and losses. The accumulated balances for each classification of other comprehensive loss for the nine-month period ended September 30, 2023 are as follows: SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE LOSS
|  | Foreign currency translation adjustment |  |  | Accumulated other comprehensive loss |
Balance at January 1, 2023 |  | $ | (1,210 | ) |  | $ | (1,210 | )
Net current period change |  |  | (694 | ) |  |  | (694 | )
Balance at September 30, 2023 |  | $ | (1,904 | ) |  | $ | (1,904 | )
The accumulated balances for each classification of other comprehensive loss for the nine-month period ended September 30, 2022 are as follows:
|  | Foreign currency translation adjustment |  |  | Accumulated other comprehensive income/(loss) |
Balance at January 1, 2022 |  | $ | 391 |  |  | $ | 391 |
Net current period change |  |  | (1,441 | ) |  |  | (1,441 | )
Balance at September 30, 2022 |  | $ | (1,050 | ) |  | $ | (1,050 | )
The Company’s reporting currency is the U.S. dollar (“USD”). For businesses where the majority of the revenues are generated in USD or linked to the USD and a substantial portion of the costs are incurred in USD, the Company’s management believes that the USD is the primary currency of the economic environment and thus their functional currency. Due to the fact that Argentina has been determined to be highly inflationary, the financial statements of our subsidiary in Argentina have been remeasured as if its functional currency was the USD. The Company also has foreign operations where the functional currency is the local currency. For these operations, assets and liabilities are translated using the end-of-period exchange rates and revenues, expenses and cash flows are translated using average rates of exchange for the period. Equity is translated at the rate of exchange at the date of the equity transaction. Translation adjustments are recognized in stockholders’ equity as a component of accumulated other comprehensive income (loss). Net translation losses from the translation of foreign currency financial statements of $(1,441) and $(694) at September 30, 2022 and 2023, respectively, are included in comprehensive income (loss) in the Consolidated Statement of Changes in Stockholders’ Equity. Foreign currency transaction gains and losses related to operational expenses denominated in a currency other than the functional currency are included in determining net income or loss. Foreign currency transaction losses for the three- and nine-month periods ended September 30, 2022 of $(922) and $(1,844), respectively, and for the three- and nine-month periods ended September 30, 2023 of $(358) and $(126), respectively, are included in selling, general and administrative expenses in the Consolidated Statement of Operations. Foreign currency transaction gains related to long-term debt for the three- and nine-month periods ended September 30, 2022 of $191 and $2,803, respectively, and for the three- and-nine month periods ended September 30, 2023 of $429 and $1,139, respectively, are included in interest expense in the Consolidated Statement of Operations.

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- Definition The entire disclosure for tabular information relating to Other Comprehensive Income (OCI) as is applicable to noncontrolling interests. This text block may also include OCI relative to the filing entity, the aforementioned noncontrolling interest OCI, as well as OCI on a consolidated basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//810/tableOfContent + Details
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