IFRS in Colombia

1). The International Financial Reporting Standards (IFRS for its acronym in English) are the set of international accounting standards promulgated by the International Accounting Standards Board (IASB), which establishes the requirements for the recognition, measurement, presentation and information to disclose about transactions. and economic events that affect a company and that are reflected in the financial statements.

2- The International Accounting Standards Board – IASB (International Accounting Standards Council) which issues the IFRS and IFRS standards for SMES

1. There is also timeliness that makes the information ready for uses to search.

2.There is verifiability that makes people reach the same decisions.

3. There is also a jurisdiction that makes a public commitment to support the quality of the global accounting standards.

1.Timelines

2.Verifiability

3.IASB

1. IASB studies the nature of the issue and conducts it if necessary.

2. The exposure draft considers public suggestions and comments for a specific proposal.

3. There are other common IFRS features such as comparability which allows you to compare your IFRS in different periods of time or between different companies of the same industry.

1. There are companies that do not have IFRS standards.

2. There are some standards that cannot support companies.

3. There is a company that has its company with all the quality standards.

verifiability

chance

understandable

1.The International Financial Reporting Standards (IFRS) are a fundamental part for the analysis of financial statements anywhere in the world. A universal language, especially in matters of business and finance.

2. They are promulgated by the International Accounting Standards Board (IASB), which establishes the requirements for recognition, measurement, presentation and information to disclose about the transactions and economic events that affect a company and that are reflected in the financial statements.

1. Do you think that IFRS standards are different in every country? Why? Why not?

As of March 28, 2008, around 75 countries mandate the use of IFRS, or parts of them. Many other countries have decided to adopt the standards in the future, either through their direct application or through their adaptation in the national legislation of the different countries.

2. Who do you think supports IFRS among countries?

The International Accounting Standards Board – IASB (International Accounting Standards Board), which issues the IFRS and IFRS standards for SMEs

Interpretations Financial Reporting Standards Committee - IFRIC (IFRS Interpretations Committee - IFRIC) who evaluates without in certain cases or specific situations not contemplated in the Full IFRS must pronounce me through an interpretation

IFRS Advisory Council which provides strategic advice on IFRS

Why do you think IFRS needs support?

it offers an opportunity to improve the finance function through greater consistency in accounting policies, obtaining potential benefits of greater transparency, increased comparability and improved efficiency.

1. Do you think that IFRS standards are different in every country? Why? Why not?

In the accounting part, all the countries that make it up are the same in this aspect, but in the aspects they are completely different

2. Who do you think supports IFRS among countries?

 are the set of international accounting standards promulgated by the International Accounting Standards Board (IASB), which establishes the

requirements for recognition, measurement, presentation and information to disclose about inequalities and the culture that exists in each one .

Why do you think IFRS needs support?

I don't think they need support, the countries need to clarify issues that affect everyone

1.)Some countries have the same IFRS because they have the same requirements for recognition, measurement, presentation and disclosure of transactions and economic events that affect a company and are reflected in the financial statements.

2.)The International Accounting Standards Committee is an independent body of the private sector that, in addition to creating these rules, is in charge of regulating everything related to them.

Organismos como el Banco Mundial muestran su interés en que dichos estándares estén implementados en todo el mundo, pues brindan transparencia financiera y, con ello, es factible el movimiento de capitales en la economía global", señala el académico.

1.Do you think that IFRS standards are different in every country? Why? Why not?

they are the same, because IFRS are International Financial Reporting Standards which must be implemented in companies, it is also a single accounting that must be worked equally for all companies.

2. Who do you think supports IFRS among countries? Why do you think IFRS needs support?

-El International Accounting Standards Board – IASB

-Interpretations Financial Reporting Standards Committee – IFRIC

-IFRS Advisory Council.

is needen the support so that each day they evolve more,provides better competitiveness between companies in the same economic category, promotes transparent operation.

 1). The International Financial Reporting Standards (IFRS for its acronym in English) are the set of international accounting standards promulgated by the International Accounting Standards Board (IASB), which establishes the requirements for the recognition, measurement, presentation and information to disclose about transactions. and economic events that affect a company and that are reflected in the financial statements.

2).The adoption of IFRS/IFRS offers an opportunity to improve the financial function through greater consistency in accounting policies, obtaining potential benefits of greater transparency, increased comparability and improved efficiency.

1. In the Colombian Standard, it applies to people who, according to the law, are obliged to keep accounts. In the IFRS, it applies to all types of companies or entities that submit information. Each country decides whether to adopt them.

2.The technical standards established by the IASB (International Accounting Standards Board) whose objective is to harmonize accounting regulations at an international level. .

1. There is a regulator for IFRS in many countries.

2. There are global standards.

3. There is a company that has its company with all the quality standards.

1 verfiability

Objectively verifiable indicator: number of officers trained by professional category

2.bias But bias among reviewers can negatively impact this process.

3.IFRS, IASB

IFRS 7 has been adopted in these financial statements

1.

The International Financial Reporting Standards (IFRS) are the set of international accounting standards promulgated by the International Accounting Standards Board (IASB), which establishes the requirements for recognition, measurement, presentation and disclosure of transactions. and economic facts that affect a company and that are reflected in the financial statements.

2.

Las Normas Internacionales de Información Financiera (IFRS por sus siglas en inglés) son el conjunto de estándares internacionales de contabilidad promulgadas por el International Accounting Standars Board (IASB),

We can face claims in any country and under any jurisdiction.

The question of verifiability is also of crucial importance.

Timeliness of reporting completion or amendments to planned journeys

nternational Financial Reporting Standards (IFRS) are a set of accounting rules for the financial statements of public companies that are intended to make them consistent, transparent, and easily comparable around the world.

FRS specify in detail how companies must maintain their records and report their expenses and income. They were established to create a common accounting language that could be understood globally by investors, auditors, government regulators, and other interested parties.