Abstract

SOTO-RESTREPO, Blanca Alicia; QUIROS-JARAMILLO, Jaqueline de la Cruz  and  MESA-VELASQUEZ, Gloria Stella. Comparative analysis of the accounting and financial management of inventories between the full IAS 2, IFRS SMEs Section 13th, and Decree 2706 Chapter 8th. Cuad. Contab. [online]. 2013, vol.14, n.spe36, pp.903-941. ISSN 0123-1472.

The implementation process currently in progress in Colombia to the international financial reporting standards and according to the user groups given by the Technical Council of Public Accountancy, CTCP, and accepted by the Ministries of Finance and Public Credit, Commerce, Industry and Tourism, creates the need to study the rules established for each of the different groups. Therefore, this article aims to analyze the inventory issue in the full IAS 2, section 13 standard IFRS for SMEs and Chapter 8 standard for microenterprises. The methodology used is the development of comparison matrixes or relational tables, in which the concepts of the three standards are captured and from those, the similarities and differences between themselves are obtained and they are based on the foundations of these regulations. Moreover, they are applied by solving exercises, which clearly reflect the recognition and measurement of economic events that could arise in the accounting process. This seeks to serve as an application guidance in the academy, orientation to professional accountants and companies that will have to apply this regulation soon.

Keywords : Inventories; IAS 2; Decree 2706 /2012; IFRS for SMEs; Inventorie; financial instruments; comparative accounting; international accounting standards; Colombia. Decree 2706 of 2012 (December 27); International Financial Reporting Standards (IFRS); SMEs.

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