NIF C-1 Cash and cash equivalents
NIF C-1 (Financial Reporting Standard) refers to Cash and Cash Equivalents. Its main objective is to establish the specific standards for the accounting recognition of these elements in the financial statements of an entity. Key aspects of NIF C-1 are:
Series C NIF Standards Applicable to specific concepts of the financial statements
The C Series of Financial Reporting Standards (FRS) focuses on standards related to specific financial statement concepts. Each of the FRSs within this series addresses technical and detailed aspects of how certain financial statements should be presented.
Basic Postulate for an Ongoing Business
The concept of "going concern" in the Financial Reporting Standards (NIF) in Mexico is fundamental for the preparation of financial statements. It refers to the assumption that an entity will continue to operate in the foreseeable future, that is, that it does not have the...
Basic Postulate Economic Entity
The Economic Entity (basic postulate) refers to an identifiable unit that carries out economic activities, constituted by combinations of human, financial and material resources. The personality of the economic entity is independent of its shareholders,...