Aplicación NIIF 9 en el fondo complementario previsional cerrado de jubilación de los servidores de la UTMACH.

Abstract

The relevant documentation addresses the issue of application and impact of International Accounting Standards, in relation to IFRS 9 financial instruments to describe how it infers in the preparation, analysis and interpretation of financial statements in the Complementary Closed Pension Fund for Servants from the Technical University of Machala FCPC-JSUTMACH. There are no studies at the local level that characterize the advantages, disadvantages and incidence of IFRS in non-profit entities; Nor have national accounting standards been updated to the financial needs of private sector companies and institutions, in their only the guidelines of national regulations are applied in order to regulate and measure their monetary performance when applying taxes, causing difficulties in the management, versatility and little flexibility when managing resources, using financial instruments or justifying operating expenses on balance sheets. Regarding the loan portfolio, the resolutions of the Superintendency of Banks apply; which focus on inflating economic results, gross profitability and categorizing financial statements to facilitate auditing and tax collection; However, non-profit entities such as private unemployment funds are regulated by the Bank of the Ecuadorian Social Security Institute without independent regulations to prepare and analyze their financial statements, making it difficult for their economic inclusion, entry into international markets and investments despite because they do not pay taxes, they prepare their finances based on it. The depreciation of non-current assets and inflation causes an accelerated deterioration of credit flows to equity; because the Tax Regime handles fixed percentages forcing them to devalue them without considering their fair value, expenses or deductions that may be applied through IFRS; In addition, using the historical method increases losses and undervalues property, plant and equipment, making it difficult to obtain greater profitability due to the loss in purchasing power and low liquidity in the socioeconomic environment.