Cuando se hace una revisión del Catálogo Único de información financiera con fines de supervisión del sector solidario, se pueden identificar algunos elementos que en ciertos casos pueden llegar a ser confusos o contradictorios. Uno de estos casos es no poder ver la diferencia entre los costos de producción y los gastos de venta (en…
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Inconsistencies in ACT from company to company, and even within companies, cloud net-income reporting, an accounting expert says. Every well-controlled company has an asset capitalization threshold (ACT) that should be consistently applied. The ACT is the dollar value at which an acquired asset is capitalized rather than expensed. Pretty basic, right? However, there is no…
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India is likely to defer the adoption of new accounting standard on revenue recognition (known as Ind AS 115) as more consultation is needed with the industry to clarify the requirements and to give examples to help implementation. Technology and telecom companies are largely going be impacted with this standard. The new accounting standard on…
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A succession of recent announcements by major Japanese companies—notably relatively young firms like Softbank and Rakuten—that they were adopting the International Financial Reporting Standards has generated great interest. The IFRS accounting rules were originally developed to harmonize standards in the European Union and have since been adopted by countries outside the region; they are now…
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The Financial Accounting Standards Board has released two proposed accounting standards updates related to derivatives and hedging. The first proposal involves the effect of derivative contract novations on existing hedge accounting relationships. The second proposal, also issued Thursday, pertains to contingent put and call options in debt instruments. The proposed update on derivative contract novations comes from FASB’s…
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The Financial Accounting Standards Board has issued a three-part accounting standards update for employee benefit plans accounting as part of its efforts to simplify the accounting rules. Earlier standards for defined contribution benefit plans and health and welfare benefit plans required fully benefit-responsive investment contracts to be measured at contract value, along with an adjustment to reconcile…
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Introduction As it is well known, small- and medium-sized entities (SMEs) are a very important player in the global economy. However, in many cases, SMEs’ resource providers say, “I do not trust their financial statement figures”. This is a double-sided problem. First, those who need capital might not gain access to it, or at least…
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The Financial Accounting Standards Boards has finalized its simplification of the accounting requirements around measuring inventory, although the simplification is not as broad-based as originally intended. FASB has approved Accounting Standards Update No. 2015-11 to adjust the requirements in Topic 330 of the Accounting Standards Codification around measuring the value of inventory. The update says when performing…
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El CTCP señala que el manejo contable de fondos con destinación específica de acuerdo con lo indicado en los nuevos marcos técnicos normativos que desarrollan la Ley 1314 de 2009, no ha sufrido modificaciones frente a lo señalado en el Decreto 2649 de 1993. Es como sigue:
El libro Tributario al que hace referencia el artículo 4 del Decreto 2548 de 2014, es un libro auxiliar que podrán llevar los contribuyentes obligados a tener contabilidad, es un libro con fines eminentemente fiscales y se debe diligenciar de acuerdo con las instrucciones indicadas en el artículo 2 y 4, entre otros, del Decreto…
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