EVALUATION OF COMPLIANCE WITH SECTION 27 OF THE IFRS FOR SMES IN THE SHRIMP SECTOR IN BAHÍA DE CARÁQUEZ

• Published in: RGSA : Revista de Gestão Social e Ambiental Vol. 18; no. 12; pp. 1 - 18
• Main Authors: Veloz, Roberto Carlos Subía, Valencia, Blanca Alexandra Baldeon, Ulloa, Milca Naara Orellana, Zambrano, Gema Viviana Carvajal, Quintero, Frank Ángel Lemoine, Barberán, José Víctor Hugo Nevárez
• Format: Journal Article
• Language: English
• Published: São Paulo Centro Universitário da FEI, Revista RGSA 01.01.2024
• Subjects: Aquaculture; Compliance; Continuous improvement; Deterioration; Financial statements; Impaired assets; Information processing; International finance; International Financial Reporting Standards; Policies; Private sector; Qualitative analysis; Recognition; Sampling; Shellfish farming; Shrimps; Training; Ecuador
• ISSN: 1981-982X
• DOI: 10.24857/rgsa.v18n12-115

Objective: The objective of this work is to evaluate compliance with the recognition, measurement and presentation of the deterioration of the elements of Property, Plant and Equipment, in the Financial Statements of the shrimp producing companies of Bahía de Caráquez. Theoretical Framework: A theoretical basis is shown that allows expanding the level of understanding of the process for the treatment of the deterioration of Property, Plant and Equipment, and a study was carried out of the shrimp producing companies controlled by the Superintendence of Companies of Ecuador. through a sample that allowed us to determine the percentage of compliance with each of the requirements of section 27 IFRS for SMEs, related to the verification of signs of impairment and its application in the Financial Statements, including the accounting policies of the companies. Method: The methodology adopted has a qualitative approach through the interpretation of organizational problems and quantitative analysis of financial statements. The method used was the descriptive analytical method. Among the types of non-probabilistic sampling, purposive or intentional sampling was chosen: It is an acceptable type of sampling, because it uses the judgment of an expert in the selection of cases. The population will be made up of the accountants of the shrimp producing companies, regulated by the Superintendency of Companies. Results and Discussion: 45% of the accountants stated that they have a high level of training in IFRS for SMEs and 55% indicated that they have a medium level of training in the same subject. It was determined that 80% of the SMEs that made up the sample do not present in their Financial Statements the effect of the deterioration of their Assets, of which 90% do not evidence in the notes to the Financial Statements the actions developed to establish the non-existence. The importance of generating policies for the recognition of the deterioration of elements of Property, Plant and Equipment is highlighted, therefore it is reaffirmed that not having sufficient practical information about the process to identify the loss of value of the assets. Implications of the research: The main limitation for the development of the research was the initial access to the sources of information to receive information by the respondents, since they argued that they had to have authorization from the respective manager of each of them. The subsequent openness to obtain the requested answers constitutes an important strength that allowed this work to be completed. Originality/Value: This study contributes to the continuous improvement of private sector shrimp farms on the coast of Manabí, Ecuador.