Proposition 10
Tag 06CF, permanent. Cite it as [Bourbaki, Tag 06CF].
Algebra, chapter IV, § 4. Formal power series
— Let ; then the following conditions are equivalent : (i) is invertible in for the law ; (ii) is invertible in the ring .
The implication (i) (ii) is immediate from (28). Suppose now that is invertible in . There exists such that each is homogeneous of degree and is the identity mapping of . Write ; then (28) shows that is the identity mapping of , which is equivalent to the assertion . By Lemma 2 of IV, p. 35 is therefore invertible in . It is clear that is invertible in , hence is invertible in .
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.