Decrees 2170 of 2017 and 2483 of 2018 introduced new standards that began to apply in 2019, the first impacts of which will be seen in the financial statements for this period. In this editorial we summarize the main changes that you should include in your reports. In the preparation of the 2019 financial statements … Read more
The Supersociedades extended the deadlines for companies to submit their 2019 financial statements, due to the contingency situation in the country as a consequence of COVID-19. In this editorial we relate the new deadlines, as well as the information and those obliged to report. The Superintendence of Companies -Supersociedades- issued on March 17, 2020 External … Read more
It is appropriate for entities to consider the impact of the pandemic on accounting conclusions and related disclosures. Entities may need to assess whether the impact of COVID-19 has led to impairment of any assets. In its IFRS in Focus section, Deloitte publishes the report Accounting considerations related to Coronavirus disease 2019, the purpose of … Read more
Asset impairment and impairment of the going concern assumption are two of the most adverse consequences of COVID-19 on entities’ financial reporting. Entities may have to amend the figures in their 2019 financial statements or include disclosures in this regard. Impairment of assets With the objective of performing year-end impairment tests, or those currently required … Read more
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