LOS CAMBIOS EN LAS NIIF PARA PYMES: APLICACIÓN DEL MODELO DE REVALUACIÓN DE PROPIEDAD, PLANTA Y EQUIPO Y SU INCIDENCIA EN LAS NIIF-PYMES ECUATORIANAS

Abstract

International Financial Reporting Standards (IFRS) for PYMES in Ecuador are fundamental to the economy. They have become the source of financial information for entrepreneurs and investors and potential creditors because such norms facilitate the decision making process. The main change corresponds to the revaluation model for properties, plants and equipment, which generates awareness in shareholders, because they expect that the assets be worth fairly in the market at the proper value. In this context, there will be noticeable changes in the statements of financial position in assets, in addition to the effects that are reflected in equity. All of this allows strengthening the equity base of the IFRS for SMEs, as well as the execution of a more adequate performance evaluation and to improve the competitiveness of companies in the market. Further; Investors and general users will have a better economic-financial vision and could access sources of financing. Ecuadorian PYMES have the option of applying the revaluation model of their plant and equipment property as indicated by the International Accounting Standards Board (IASB), effective January 1, 2017. From This way, the financial information would comply with the postulates of relevance and faithful image, and in turn be useful and comparable.