Impacto en el pasivo y patrimonio de las cooperativas de ahorro y crédito con la aplicación de las NIIF

Abstract

With the issuance of Law 1314 of 2009 Colombia begins its convergence towards International financial information standards (IFRS) and companies begin their process of convergence and adoption applying the changes and guidelines that these norms bring. At In the case of credit unions, such adoption requires a reclassification in its social contributions, which affects liabilities and equity. The objective of this article is analyze the impact on liabilities and equity of cooperatives with the implementation of IFRS Methodologically this article is descriptive and analytical, starting with a description of the legal framework of cooperatives, accounting in Colombia and standards international, also the accounting procedures to be applied are identified under IFRS and that have an impact on the liabilities and assets of cooperatives, followed by compare financial information under generally accepted accounting principles in Colombia (GAAP) and under international financial reporting standard (IFRS) to identify the differences and finally analyze the accounting and financial impact taking into account the before and after the application of IFRS, which allows to conclude that if the changes are applied in the classification of social contributions the impact on equity and liabilities is negative and jeopardizes the development and continuity of these entities which forced the government to take measures for its protection