Resumen

ARIAS-BELLO, Martha Liliana  y  SANCHEZ-SERNA, Aracely del Socorro. Measurement Basis: The Link between the International Financial Reporting Standards, the International Valuation Standards and the Current Colombian Context. Cuad. Contab. [online]. 2014, vol.15, n.37, pp.25-53. ISSN 0123-1472.

The International Financial Reporting Standards issued by the International Accounting Standards Board (IASB) are a key factor in the internationalization process of the markets, leading to guaranteeing common information as support for the raising of capital. A very important factor in the preparation of the report is the accounting basis. Measurement basis such as fair value impose great valuation challenges, especially for economies in which the markets are not deep and developed enough. Thus, the measurement requirements call for quality valuation processes that minimize any possible distortion of the value; an opportunity for the International Valuation Standards, without a doubt. Based on the definitions of the IASB, the International Valuation Standards Council (IVSC) and the current Colombian principles on measurement basis, there is a stronger link between the fair value definitions of the IFRS, the definition of market value of the IVSC, and the definitions of net realizable value, fair trade value, commercial value, market value and opportunity cost of the Colombian principles. In turn, the definitions with a weaker link are amortized cost, special value and fair value of the IVS.

Palabras clave : measurement; valuation; IFRS; IVS; fair value; medicion; valuation; financial information; international accounting standards; international valuation standards.

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