Financial and tax impact of the application of IFRS 16 in the Montero Company
DOI:
https://doi.org/10.62452/4qn9av89Keywords:
Financial and tax impact, IFRS for SMEs, financial ratios, current and deferred income taxAbstract
The objective of this investigation was to demonstrate that the company Insumos Profesionales Cía. Ltda. Montero was able to reduce the financial and tax impact of the application of the International Financial Reporting Standard (IFRS) 16 Leases, through the implementation of the IFRS for SMEs section 20, under the threshold of resolution No. SCVS-INC- DNCDN- 2019-0009 issued by the Superintendence of Securities and Insurance Companies (SCVS). For this, the theories of several authors related to the object of study were considered, a descriptive documentary investigation was applied, with a qualitative approach, as a data collection tool a formal interview was obtained and analysis of the lease files, the state of results and the statement of financial position for the periods 2018 and 2019, then the calculations of the financial ratios were made. As a result of the application of the information collection instruments, weaknesses in the entity's internal controls and unfavorable effects were evidenced such as: increases in financial ratios, increase in municipal tax 1.5x1000 and increase in current and deferred income taxes; the same ones that were reversed with the application of section 20 of the IFRS for SMEs, which is evidenced in the calculation tables.
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