The objective of Series A of the NIF is to define and establish the Conceptual Framework that supports the particular recognition NIFs and the resolution of issues that arise in the accounting of transactions and any events that economically affect the entity.

The content of this NIF is structured as follows:

chapter 10 – Structure of Financial Reporting Standards

The objective and scope of the Conceptual Framework (CF) are defined, as well as recognition as basic concepts that affect the accounting of transactions and other events that economically impact the entity.

Chapter 20 – Basic Postulates

The basic postulates on which the accounting recognition of transactions and other events affecting the entity are based are established. It also provides a general explanation of "when" and "how" they should be recognized.

Chapter 30 – Objectives of Financial Statements

This chapter identifies the types of users of financial statements and their needs. It also defines the objective, usefulness, and information provided by financial statements, along with other relevant information.

Chapter 40 – Qualitative Characteristics of Financial Statements

This section defines the fundamental and enhancing qualitative characteristics of financial statements.

Chapter 50 – Basic Elements of Financial Statements

The basic elements that must be included in the four primary financial statements—statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows—are established here.

Chapter 60 – Recognition

«Recognition» is defined as the process of capturing, for inclusion in the statement of financial position or statement of comprehensive income, an accumulated item that meets the definition of one of the elements of financial statements.

Chapter 70 – Measurement

In this chapter, «Measurement» is defined as the process of quantifying, in monetary terms, an entity's assets, liabilities, equity, income, costs, and expenses.

Chapter 80 – Presentation and Disclosure

It stipulates that the term "presentation" is used in a broad sense, encompassing items presented in the main body of the financial statements and/or in their notes. This means the information can either be shown in the primary financial statements or detailed in notes for a more complete and understandable context.

Regarding "disclosure," it establishes the information that must be included in the notes to the financial statements, such as presentation bases and specific accounting policies.

Chapter 90 – Supplementarity

Supplementarity is determined when the absence of an NIF is covered by another formally established set of standards.

Chapter 100 – Effective Date and Transitional Provisions

This chapter establishes the date when the standards come into effect.

Conclusions

The Conceptual Framework of the NIF 2024 provides essential foundations for the preparation and presentation of financial information in Mexico, ensuring that it is relevant, reliable, and comparable. Its main objective is to guide entities in the preparation of financial statements that allow users to make informed economic decisions. Furthermore, by aligning with international standards, it facilitates the global comparability of financial information. The Conceptual Framework reinforces the importance of basic postulates and sets clear criteria for the recognition, measurement, and presentation of financial elements, promoting transparency and consistency in accounting.