Categoría: Contable

¿El revisor fiscal debe firmar EEFF intermedios?

El Consejo Técnico de la Contaduría Pública (CTCP), por medio del Concepto No. 251 de 2022, respondió a una consulta acerca de la vigencia del Concepto 2007-56 sobre de la firma del revisor fiscal en estados financieros de periodos intermedios. El CTCP  aclaró que dicho concepto tiene vigencia parcial dada la derogación del Decreto 2649…
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The IR Framework revision: Inspiring better integrated reporting

The first-ever revision of the International IR Framework for integrated reporting is now underway. Since the framework’s release in December 2013, the International Integrated Reporting Council has focused on driving its widespread international adoption. Today there is strong and increasing momentum for integrated reporting and integrated thinking to become the norm within mainstream business practice. A March 2017 consultation,…
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Finance Lease vs Operating Lease: Classification and More Differences under ASC 842, IFRS 16, and GASB 87

One of the changes that was implemented with the new lease accounting standards is the renaming of capital leases to finance leases. While this is mostly a change in name only, a significant aspect of the new standard is the addition of the balances related to operating leases to the financial statements. If you are unclear about…
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Exploring the IESBA code

Installment 1: The Five Fundamental Principles Professional accountants are often faced with complex, real world situations that are not black and white. The newly revised International Code of Ethics for Professional Accountants (“the Code”), developed by the International Ethics Standards Board for Accountants (IESBA), sets out principles to guide behavior and help accountants uphold their…
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Implementing Accrual Accounting in the Public Sector–Understanding Your Technology Is Vital!

Implementation of accrual accounting in the public sector remains a significant priority across many jurisdictions. According to the International Public Sector Financial Accountability Index 2018 Status Report, only 25% of the 150 jurisdictions included in the Index currently report on an accruals basis, and of these 51% make use of the International Public Sector Accounting Standards…
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Enhancing Corporate Reporting

Corporate reporting should capture all relevant information about organizations.  However, investors and other stakeholders are demanding more, higher-quality information and insights about company performance, risks, opportunities, and long-term prospects than are available from the conventional financial reporting process.  To be accountable, companies need to provide a clear and comprehensive picture of their organization’s ability to…
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Mejorar la comparabilidad de la información financiera internacional

Las Normas NIIF buscan fomentar la transparencia, rendición de cuentas y eficiencia en los mercados financieros en todo el mundo. Una forma en que las Normas NIIF lo logran es mejorando la comparabilidad de la información financiera. Eso les permite a los inversionistas evaluar mejor las oportunidades de inversión. La contabilidad comparable se facilita cuando…
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Social and environmental value creation

Social and environmental challenges are becoming more complex. Increasingly, these two issues, and the ecosystems of impact areas that they encompass, are seen by government, business and finance as interconnected priorities. At present, many tools do exist to align corporate strategies with social and environmental outcomes. But demands are growing for more precision and transformative…
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What CPAs must do to capitalize on disruption

Over the past few years, use of the word disruption in business discourse has blown up. You come across it in text and on television. You hear it on podcasts and in private conversations. Everywhere you turn, someone seems to be saying that technology will disrupt this industry or that profession — including accounting. Yet, despite its near…
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ACCA forges the path for social and environmental value creation and calls for collective action by business, finance professionals and society

The report examines the role of business in environmental, social and governance (ESG) issues which are under increasing focus from investors and society more widely.  It assesses the current state of corporate disclosures on key social and environmental issues in different regions around the world and outlines five disclosure and decision-making approaches that can support business…
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