Update of the A series of the NIF 2024

by Hector Galicia | Oct 9, 2024 | Accounting

The NIFs are mainly divided into two large groups of regulatory pronouncements: the Conceptual Framework (CM) and the specific NIFs. In this article we will analyze the main differences in the CM with respect to previous years. Why is this different?

New NIF Series A Conceptual Framework (2024)

by Hector Galicia | Oct 9, 2024 | Español

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

New NIF Series A Conceptual Framework (2024)

by Hector Galicia | Oct 9, 2024 | Accounting

The objective of the NIF Series A is to define and establish the Conceptual Framework that supports the specific NIFs and the solution to problems that arise in the accounting recognition of transactions and any event that economically affects the...

What is Bank Reconciliation and its relevance in Mexico?

by Hector Galicia | Oct 8, 2024 | Working papers

Bank reconciliation is a fundamental accounting process that allows a company's financial records to be compared with the data provided by the bank. This exercise is essential to ensure that both records match and, in the event of discrepancies, to correct the...

Calculation and Use of Tax Losses in Mexico

by Hector Galicia | Sep 30, 2024 | Español

When a company's authorized deductions exceed its taxable income, a tax loss must be determined, which can be applied to future years where profits are generated. How is a tax loss calculated? A tax loss occurs when authorized deductions (expenses allowed by law...