Abstract

RICO BONILLA, Carlos Orlando; MONTOYA OCAMPO, Luz Dary; FRANCO NAVARRETE, Blanca Myrian  and  LAVERDE SARMIENTO, Miguel Ángel. COMPARABILITY OF FINANCIAL INFORMATION IN COLOMBIA AFTER ITS CONVERGENCE WITH IFRS. THE CASE OF PROPERTY, PLANT AND EQUIPMENT IN LISTED COMPANIES. Innovar [online]. 2020, vol.30, n.76, pp.91-103.  Epub May 28, 2020. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v30n76.85215.

The purpose of this study is to examine the effect of International Financial Reporting Standards (IFRS) in terms of the comparability of the financial information of companies listed on the Colombian Stock Exchange before (2011 and 2013) and after (2015 and 2017) the implementation of such standards. This work follows a methodology that addresses the annual financial statements of 65 companies, regarding policies, accounting treatments and disclosures of property, plant and equipment. In addition, Herfindahl indices are established in order to calculate the degree of material harmonization of these practices. This research found that, in the short term, there has been a significant increase in the disclosure of financial information under IFRS. However, there is still a lot of potential for improvement in aspects such as the presentation of the subsequent measurement by the revaluation model, depreciation methods, and the impairment of assets.

Keywords : Comparability; financial information; IFRS; listed companies; material harmonization; property; plant and equipment.

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