Evaluation Section 13 IFRS for SMEs applied to micro-enterprises in Colombia Evaluación Sección 13 NIIF para pymes aplicada a las microempresas en Colombia

Abstract

The purpose of this research is given under the evaluation of section 13 IFRS for SMEs applied to micro-enterprises in Colombia, which was developed in a documentary way by conducting the search and collection of information in databases, articles, decrees and regulations in force, the most obvious findings are the structuring of inventories for micro-enterprises in Colombia regulated by Decree 2706 of 2012, which specifies the applicability of the international standard in this particular classification group, when making the comparison of the international decree and the local norm it was found that the only difference presented was that of the system of inventories where the decree makes the additional clarification where in the accounting policies it will have to define that if the system of inventories shall be permanent or periodic. Another important point is the treatment given to inventory deterioration since it is the specific rule that this should be reflected as an expense in the statement of results thus generating a change in the profit or loss of the period in an entity is important since they are not taken an unrealistic value would be recorded in inventories and costs, the main conclusions that could be obtained from this investigation was the fact that applying the international standard evidences an order and standardization of the accounting information that is given in a period however the regulation was needed for this to be applied in a mandatory manner in the country.