Application of inventory recognition and measurement criteria for SMEs
Abstract
The present work is part of a reflection of the authors, based on a theoretical, exploratory and systemic bibliographic review on the International Financial Reporting Standard, issued by the International Accounting Standards Board, and approved in Colombia with Law 1314 of 2009, whose main objective was to converge to IFRS in groups I, II and III. The product of this reflection focuses on aspects categorized in the standard for small and medium-sized enterprises (SMEs), group II, decree 2483 of 2018 and those that modify it, specifically section 13 inventories, where the scope of the section is discussed, recognition, measurement, disclosures, impairment, valuation methods, and incidence when performing the accounting and tax reconciliation. Finally, practical cases are simulated in which the techniques, procedures, principles, concepts, limitations and interpretations are reflected, which allow elucidating the themes.
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References
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