Financial Reporting Standards
Why is it important to comply with Financial Reporting Standards?
Currently, companies are in continuous transformation to be more competitive and one element of this is that they comply with the application of the financial regulations in force in the country, for which ANEPSA has taken on the task of creating comprehensive solutions for compliance with these financial reporting standards.
NIF B-7 Business acquisitions
The Objective of Financial Reporting Standards NIF B-7 is to establish the rules for the initial recognition at the date of acquisition of net assets, the controlled interest and other items that may arise from it, such as goodwill or extraordinary gain.
To achieve the objective of this standard, ANEPSA will determine the fair value of all assets or businesses that are identified in the acquisition or merger of companies requested under the guidelines of Financial Reporting Standard B-7.
To determine the fair values of the identified items, the provisions of paragraph B-17 of the standard will be taken into account, using the most appropriate valuation method for each of the parties to be analyzed.
What assets does NIF C-6 refer to? Plant and equipment properties
The Objective of the NIF C-6 is to establish the rules for the initial recognition at the date of acquisition of net assets, the controlled interest and other items that may arise from it, such as goodwill or extraordinary gain.
To achieve the objective of this standard, ANEPSA will determine the fair value of all the assets or businesses that are identified in the operation of acquisition or merger of companies requested under the guidelines of Financial Information Standards B-7.
To determine the fair values of the identified items, the provisions of paragraph B-17 of the standard shall be taken into consideration, using the most appropriate valuation method for each of the items to be analyzed.
- Useful lives analysis.
- Depreciation Analysis.
- Residual value estimate.
- Deterioration of the value of the active.
Bulletin C-15: Impairment of long-lived assets.
The objectives of bulletin C-15 are:
a) Provide criteria that allow the identification of situations that present evidence regarding a possible impairment in the value of long-lived, tangible and intangible assets.
b) Define the rule for the calculation and recognition of asset impairment losses and their reversal.
c) Establish the rules for the presentation and disclosure of assets whose value has deteriorated or their impairment has been reversed.
d) Establish the presentation and disclosure rules applicable to the discontinuation of operations.
The studies to estimate the impairment value are carried out under the guidelines indicated in the BULLETIN C-15, for which ANEPSA develops a Commercial Appraisal to estimate the net sale price and a Financial Appraisal to estimate the value in use.
Another important point in the study is the identification of long-term fixed assets, which is carried out through the implementation of a fixed asset control, which will have identified each one of the assets with their characteristics and information necessary for each one. of the required values.
