The IFRS and accounting material harmonization of the inventories of colombian non-financial listed companies

##plugins.themes.bootstrap3.article.sidebar##

Published Apr 2, 2020
DOI https://doi.org/10.17981/econcuc.41.2.2020.Econ.1

##plugins.themes.bootstrap3.article.main##

Carlos Orlando Rico Bonilla
University Santo Tomas
https://orcid.org/0000-0002-0060-0431
Miguel Ángel Laverde Sarmiento
University Santo Tomas
https://orcid.org/0000-0002-6006-9195
Blanca Myrian Franco Navarrete
University Santo Tomas
https://orcid.org/0000-0002-5253-7673
Luz Dary Montoya Ocampo
University Santo Tomas
https://orcid.org/0000-0003-2461-6443

Abstract

Inventories are a strategic item in the development of the corporate purpose of companies that are mainly engaged in manufacturing and specific products. So then, this investigation is a contribution to the literature on the effects of the Colombian convergence towards IFRS. It was analyzed the material harmonization of practices on inventories accounting treatment for non-financial contributing companies, based on the study of their financial statements and the estimation of a Herfindahl index to measure the coincidence in the choice of the cost calculation formula. When comparing the previous period (2011 and 2013) with the application of IFRS (2015 and 2017) it was found that there is an increase in disclosures about accounting policies and the initial recognition of these assets, but there are still quite a few gaps and aspects such as the subsequent measurement, net realizable value and impairment. Regarding the disclosure of information regarding inventory impairment losses, it is concluded that there is a substantial increase between the previous period and the period of application.

Downloads

Download data is not yet available.

##plugins.themes.bootstrap3.article.details##

How to Cite
Rico Bonilla, C. O., Laverde Sarmiento, M. Ángel, Franco Navarrete, B. M., & Montoya Ocampo, L. D. (2020). The IFRS and accounting material harmonization of the inventories of colombian non-financial listed companies. ECONÓMICAS CUC, 41(2), 149–168. https://doi.org/10.17981/econcuc.41.2.2020.Econ.1
Issue
Vol. 41 No. 2 (2020)
Section
Articles: Economy and Finance
Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

You are free to:

  1. Share — copy and redistribute the material in any medium or format
  2. The licensor cannot revoke these freedoms as long as you follow the license terms.

Under the following terms:

  1. Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
  2. NonCommercial — You may not use the material for commercial purposes .
  3. NoDerivatives — If you remix, transform, or build upon the material, you may not distribute the modified material.
  4. No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.