Abstract

SANCHEZ, María del Carmen Ruiz  and  RUIZ, Lucila Perilla. Relevance of socioeconomic factors in the convergence to IFRS: Analysis in SMEs in two sectors of Villavicencio. Entramado [online]. 2019, vol.15, n.1, pp.98-115. ISSN 1900-3803.  https://doi.org/10.18041/1900-3803/entramado.1.5363.

The purpose of this article is to demonstrate the state in which the application of international Financial Reporting Standards (IFRS) is found in small and medium-sized entities and their relationship to the socioeconomic factors of the National order The methodology used is quantitative in nature, based on reports extracted from the information System and Business Report of the Superintendency of Companies of Colombia and the application of a questionnaire to 68 accountants responsible for To carry out the implementation in companies of the agro-industrial and services sectors of the city of Villavicencio. The results are shown in three sections: the characterization of the entities, the status of the implementation and the relevance of the economic and social factors on the process. From the application of the chi-square non-parametric test, it was possible to conclude the existence of variables with a high degree of significance in the implementation of these international standards, which impact both positively and negatively the Convergence development.

JEL Classification: M41, M48.

Keywords : International Financial Reporting Standards (IFRS); Small and Medium Enterprises (SMEs); Socio-economic factors; convergence; implementation; analysis.

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