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Standards applicable to the financial statements as a whole Series NIF B
Series B of the Financial Reporting Standards (FRS) establishes the specific guidelines that must be followed for the preparation and presentation of the financial statements of an entity. Each standard within this series focuses on a fundamental part of the financial statements.
Differences in financial instruments (NIF C-2)
The Financial Information Standards in their NIF C-2 indicate different types of Financial Instruments, among those that cause the most confusion in my opinion are: Financial Instruments for Collection of Principal and Interest (IFCPI), Financial Instruments for Purchase and...
Qualitative Characteristics of Financial Information (NIF)
Qualitative characteristics of financial information
Accounting Information Systems in Mexico
Regardless of the size or economic sector of the entities, they require information for decision-making. According to the Financial Reporting Standards (NIF), this information must be: Truthful, Reliable, Comparable, and Timely. In this article, we will define key...
Accounting information systems in Mexico
Regardless of the size or economic activity of the entities, they require information for decision making; according to the NIF, this information must be: True, reliable, comparable, and timely. In this article we will define key points about the...
What are the notes to financial statements in Mexico?
Notes to financial statements are an integral part of an entity's financial statements. Their main purpose is to provide explanations and additional details that complement and clarify the information presented in the main financial statements. The notes help users of...
What are notes to financial statements in Mexico?
Notes to financial statements are an integral part of an entity's financial statements. Their main purpose is to provide additional explanations and details that complement and clarify the information presented in the financial statements...
Understanding NIF: Financial Reporting Standards in Mexico and Their Convergence with IFRS
The Financial Reporting Standards (NIF) are a set of technical regulations that establish how entities must prepare and present their financial information in Mexico. These standards aim to ensure that the information is comparable, relevant, reliable, and...
What are NIFs and why are they important?
The Financial Reporting Standards (NIF) are a set of technical regulations that establish how entities must prepare and present their financial information in Mexico. These standards seek to ensure that the information is comparable, relevant, reliable and...
Update of the A series of the NIF 2024
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)
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)
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...
