In Venezuela, in the process of what is now known as the globalization of the economy, a series of problems with accounting information are presented; since there are economies of each country, under a specific and totally different context that makes its emission and understanding difficult.
Accounting is a science, art or discipline created by man to cover his need to manage and know the results of operations or activities at small, medium or large scale in companies, obtaining either a gain or a loss. This need, arises from the beginning of the society, under the scheme of the exchange of products, since they required to know the value of what was being exchanged.
However, accounting science is as old as the need to have information to quantify the benefits obtained by the commercial activities carried out; since the first civilizations that inhabited the earth, they needed to find a way to record the activities and transactions they carried out, usually these facts were reflected through arithmetic and graphic projections, becoming very complex to be remembered by the human mind .
In this regard, accounting has evolved over time, adapting to the circumstances of different economic models and the needs of different activities carried out by man, such as agriculture, livestock, mining, oil industry, among others. Also for manufacturing or transforming raw materials, or other specialization for commercial activities and services such as banks.
We would say that this is how the current economy operates and business works. The currency is the universal standard of measure for arranging any transaction. In this way, it is possible to quantify and measure the surpluses or deficits that affect an estate and make it possible to prepare the accounts; being this a science susceptible to modifications and changes, according to the circumstances and needs of each entity, for this reason its regulation arises.
On the other hand, international accounting seeks to create a series of conditions for companies to have the main objective of developing their level of profits from the sale of goods and services worldwide.
The conception of international accounting standards has had a remarkable development in recent decades, building models that aim to meet the criteria of transparency and verification of information. That is why the International Accounting Standards Board (IASB) seeks to develop the public interest, to establish a single set of global accounting standards, which are understandable and mandatory, requiring comparable, transparent and transparent information. high quality in the financial statements and its revealing notes.
The International Accounting Standards (NIC), were raised in order to improve the functioning of the internal market and ensure efficient operation of the capital market.
The NICs were initially created, analyzed and studied by the IASB, but also left several alternatives for each country to choose their legal interest. Accounting between countries was difficult to compare, since there was no uniformity of standards. Years later, the International Accounting Standards Committee (IASC) tried to set up other standards, adjusting existing ones, creating new ones and eliminating the optional ones.
It should be noted that the accounting rules change a lot depending on the country concerned, this explains why the same transaction may have a different impact on the accounts. These differences make it difficult to compare companies from different countries and also tend to decrease the confidence of users towards accounting. This is one of the reasons why the NICs arise, this standard seeks that the financial information can be transmitted, in a broader sense and, in this way, be interpreted and applied more easily, which will allow comparability, reliability and consistency in accounting and financial information, whatever the environment in which they adapt.
The current world of business requires that the accounting standards under which the financial statements are prepared, converge towards their homogenization, so as not to present differences in the treatment of operations. For this reason there is a tendency towards the application and / or adaptation of the International Accounting Standards (NIC), because such standards are focused or elaborated with a broader perspective than the local scope of a country.
There is the importance of the adequate accounting record regarding the initial recognition in its inclusion in the Financial Statements, regarding the basic guidelines of the internal control, applicable for example, to the item of Property, Plant and Equipment, taking into consideration that This is a vital point to reflect the data in the accounting records. This gives general users the necessary confidence about the data related to the financial situation and the financial performance of the organization.
Continuing with the example of Property, Plant and Equipment, we have the International Accounting Standard 16, establishes the treatment for the accounting of Property, Plant and Equipment. This treatment serves so that the users of the Financial Statements, can know the investment that has been made, as well as the changes that have been presented by deterioration, obsolescence, expropriation or by an exchange of the Plant and Equipment Property. In addition, entities must not only apply the rules to assets that are in use, but also to real estate.
Finally, we can say that companies that seek competitiveness and maintain financial information in parameters of high quality, transparency and compatibility; that allow them to compete in the world market, they must adjust their internal information systems to the new trends of international accounting standards and financial information.
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