6.04. Sinopsis de la convergencia de las IFRS en América del Sur.

Autores: M. Vega Pizarro, S. Hernández Morales, W. Zúñiga Olivares

Abstract

As a result of globalization of the economy and trading, coupled with the emerging and growing need to follow government policies on financial markets; and finally the generality of the requirements of business towards international standards of financial reporting, business environment, it has identified a need to deepen, adopt and internationalize accounting standards of international nature, which necessarily involves the preparation and presentation of accounting information in a reliable manner, of high quality, easy to understand and interpret and of public interest regardless country of origin .

Under this direction, it becomes essential the availability and use of a language and common standards and quality in the preparation and presentation of financial information, facilitating structuring, sharing, understanding and trust between entities of the different countries.

This paper is intended to provide an overview of the convergence of IFRS in South America, to achieve this goal the descriptive method was used, obtaining in conclusion: The new accounting language involves the evaluation, identification, conversion and processing of nationals South American accounting standards versus IFRS, which necessarily implies the processing of calculations and quantification of adjustments due to the adoption of this new accounting – financial paradigm, and preparation and dissemination of financial information according to accepted international standards in financial markets, going necessarily though the exposure in a reliable manner, of high quality, easy to understand and interpret and of public interest.

 

Keywords: Globalization, Financial Reporting, International Financial Reporting Standards, Convergence, Accounting.