Accounting, Edición 59

General criteria for determining fair value pursuant to CINIF Standard NIF B-17

criterios_generales Sandra Minaburo Villar
Director of the Accounting Research Center
Instituto Tecnológico Autónomo de México

On August 15, 2016, the Mexican Financial Reporting Standards Board (CINIF, by its initials in Spanish) issued a new financial reporting standard, NIF B-17, “Fair Value Measurement,” and accepted comments on it up until November 15 of the same year. This new standard is part of the process of standardization undertaken by the CINIF since its founding in 2004, when the Mexican Public Accountancy Institute (IMCP) turned over responsibility for issuing accounting standards in Mexico. (leer más…)

Accounting, Edición 58

Impact on Businesses of the New IFRS 16 “Leases “

Nueva NIIFBy: Norma Leticia Leal Pimentel,


In many countries, leasing has been one of the most important financing options that companies frequently use. The explanation is that in this way companies have a factory and equipment without incurring cash flows that might affect them; they do not have to carry out bureaucratic procedures for authorizing purchases that delay the acquisition of assets; and they can renovate assets that are subject to rapid technological changes and obsolescence more quickly and efficiently, in order to have state-of-the-art technology. In addition to these operational incentives, the current International Accounting Standard (IAS) 17 “Leases” model has meant that in many cases lease contracts are not reflected in the assets and liabilities on the lessee’s statement of financial position, i.e., they are “off balance.” This has a positive effect on key financial ratios to assess the risk of the company, such as debt, leverage and performance on total assets, which can be very important when the company has a contractual commitment to maintain certain financial ratios. (leer más…)

Accounting, Edición 57

Certification in the Prevention of Operations with Resources of Illicit Origin and Financing of Terrorism

By Annapaola Llanas,
Instituto Tecnológico Autónomo de México

On May 12, 2015, the guidelines for those who want to be certified in the prevention of operations with resources of illicit origin and financing of terrorism were published in the Federal Official Gazette. The aim of this new certification is to demonstrate that in the country there are those who have the appropriate expertise in the area of “Prevention of Money Laundering and Financing of Terrorism.”

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