Integration of Colombia to the world

ABSTRACT

The integration of Colombia to the world, it is urgent to speak of the need to implement in Colombian companies, the International Financial Reporting Standards - IFRS. More than a legal requirement, the adoption of the standard becomes a strategic tool for Colombian companies that develop or plan to develop, business with suppliers and customers abroad. According to the Technical Board of Public Accountancy - CTCP shows the mandatory timetable on how IFRS should be applied to each group:

In this way, groups 1 and 3 must necessarily prepared in 2013 for the implementation stage to be carried out training activities to staff, adequacy of accounting software and adjustments to the internal control system. This year will continue to apply only current Colombian GAAP.

The transition to IFRS will take place from January 1, 2014, the date on which companies should be able to generate its opening balance under the new international standard. In this same year, the accounting principles used Colombians in parallel with the International Standards and as of January 1, 2015, will leave the management of Colombian GAAP, to exclusively use the new financial reporting standards.

On the other hand, Group 2, have in turn in 2014 as his year of mandatory preparation, 2015 as its transition year and as of January 1, 2016, will launch the exclusive application of IFRS, following each stage a schedule of activities similar to previous groups.

In addition, it is necessary to remember that according to the 2784 decree of December 28, 2012 issued by the Government, one group companies have until February 28, 2013, to submit to the Superintendency for its implementation plan of the IFRS, in accordance with the model for this purpose each watchdog agreed.

Financial statements are the means by which companies report their financial position, financial performance and cash flows to various users, who use that information to economic decision making.

According to international financial reporting standards (IFRS), a complete set of the basic financial statements include: the balance sheet, the income statement, statement of changes in equity, the cash flow statement, and notes, in which include a summary of significant accounting policies adopted by the Company's preparation of its financial statements. The overall objective of this study is to investigate, to analyze and describe the process of adoption of international standards by the companies.

Keywords: International Financial Reporting Standards IFRS, adoption of IFRS, IASB.

TABLA DE CONTENIDO

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RESUMEN………………………………………………………………………….. 3

ABSTRAC…………………………………………………………………………… 5

TABLA DE CONTENIDO………………………………………………………….. 7

INTRODUCCION…………………………………………………………………… 9

1. ANTECEDENTES……………………………………………………………… 11

1.1. NIFF……………………………………………………………………… 15

1.2. Planificación…………………………………………………………….. 16

1.3. Beneficios……………………………………………………………….. 17

1.4. Normas de Información Financieras vigentes a Enero de 2013…… 17

1.5. ¿Cuánto le cuesta a una empresa la adopción de las NIIF?............ 20

2. EL CONTADOR PUBLICO Y LAS NIIF………………………………………. 22

3. GRUPOS ESTABLECIDOS EN COLOMBIA PARA LA APLICACIÓN DE LAS

NIIF………………………………………………………………………………… 24

Cuadro No.1 Grupos…………………………………………………………….. 25

Cuadro No.2 Cronograma………………………………………………………. 26

3.1. Condiciones para la

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