COVID 19 AND ITS IMPACT ON THE APPLICATION OF INTERNATIONAL FINANCIAL INFORMATION STANDARDS (IFRS)

COVID 19 Y SU IMPACTO EN LAS NIIF

Abstract

This research aims to know the impacts that the coronavirus has had on the accounting treatment in accordance with IFRS, in a scenario of great uncertainty and significant doubts, it is extremely important to comply with the qualitative characteristics of IFRS in the financial statements, which are to provide information relevant and reliable for decision makers, who use financial information as a basis to take appropriate measures according to the efficiency, effectiveness of operations and the economic health of the entity. Through this study it was possible to know that the standards IAS 1, IAS 2, IAS 10, IFRS 9, IFRS 16 mark a greater relevance, because they have been involved in the accounting treatment and information to be disclosed in the financial statements. Therefore, the going concern assumption, inventory impairment, financial asset impairment, disclosures after the reporting period, lease contracts provide relevant information when making decisions, in addition to helping to predict certain events that may affect the economic and financial health of an entity. The methodology used in this research was of a documentary type, supported by summary and recording techniques for data collection.