International accounting

Not only has Globalization generated capital inflows to our country, but also the growth of existing ones. Our investors, too, have set their horizons in other markets, which undoubtedly arises the need to further study the organizations’ accounting and financial structures. In order to achieve this, the discussion about basic aspects of the changes that international regulations have resolved to introduce in the criteria for preparing financial statements of companies that present consolidated accounts in the stock markets must be addressed.

Since such regulatory change is expected to be mandatory in the future, and depending on the nature of the commercial and financial operations of the group in question, the accounting of such consolidated groups must undergo modifications of different scope.

Transition to account presentation based on these standards will entail an important adaptation effort for Colombian companies, so that an important set of actions, both in the domain of training and in the technology of accounting applications, must be designed with sufficient advance.

According to the behavior of the accounting regulations of the European Economic Community, in 2005 companies must have their accounting systems adapted to international accounting standards, European version. This means that Colombian businesses having commercial and financial relations with the European Union must handle such information under international accounting standards and the essential thing is that their professionals, dedicated to accounting and financial management, are prepared to take on the challenge arising with the conversion of accounting standards and principles generally accepted in Colombia to international accounting principles and standards.

Length: 120 HOURS
Investment: $ 2.760.000
Addressed to: Professionals or students in the fields of International Business, International Business Administration, Economy and Public accounting
Phones: 402 55 61


Would you like to know more about this program?


    Achieving knowledge and tools to interprete and apply international accounting standards, which allow professional development within an increasingly globalized business environment.
    Contributing to the economic development of the country through the generation of reliable and transparent accounting and financial information, which can be comparable in the international context.
    Taking into account the new configuration of social, economic and political life in a context of greater interdependence between countries regarding accounting discipline.
    Contributing to the permanent process aimed at scientific-technological improvement, professional development, and research.
    Finding International Accounting as a support tool in your professional life.




    Organizational development

    • Presentation of conceptual framework
    • Objective of financial statements
    • Comparative financial statements
    • Qualitative characteristics of financial statements
    • Elements of financial statements
    • Element recognition of financial statements
    • Measurement bases
    • Concept of capital and capital maintenance

    International financial statements

    • IFRS
    • Some options for the adoption of IFRs
    • Transit from Colombian standards to international accounting standards
    • Accounting model
    • Opening balance definition
    • Implementation of IFRs and disclosures of the impact of the conversion process

    International Accounting Standards

    • Presentation of financial statements (revised in 1997)
    • IAS 2: Stocks (revised in 1993)
    • IAS 7: Statement of cash flows (revised in 1992)
    • IAS 8: Net profit or loss for the year, fundamental errors and changes in accounting policies
    • IAS 10: Events after the balance sheet date (revised in 1999)
    • IAS 11: Construction contracts (revised in 1993)
    • IAS 12: Income tax (revised in 2000)
    • IAS 14: Financial information by segments (revised in 1997)
    • IAS 15: Information to reflect the effects of price changes (paragraphs reordered in 1994)
    • IAS 16: Property, plant and equipment (revised in 1998)
    • IAS 17: Leases (revised in 1997)
    • IAS 18: Ordinary revenue (revised in 1993)
    • IAS 19: Employee benefits (revised in 2002)
    • IAS 20: Accounting for official grants and information to be disclosed on public aid (paragraphs reordered in 1994)
    • IAS 21: Effects of changes in foreign currency exchange rates (revised in 1993)
    • IAS 22: Business combinations (revised in 1998)
    • IAS 23: Interest costs (revised in 1993)
    • IAS 24: Information to be disclosed on related parties (paragraphs reordered in 1994)
    • IAS 26: Accounting and financial information on retirement benefit plans (paragraphs reordered in 1994)
    • IAS 27: Consolidated financial statements and accounting for investments in subsidiaries (revised in 2000)
    • IAS 28: Accounting for investments in associated companies (revised in 2000)
    • IAS 29: Financial information in hyperinflationary economies (paragraphs reordered in 1994)
    • IAS 30: Information to be disclosed in the financial statements of banks and similar financial entities (paragraphs reordered in 1994)
    • IAS 31: Financial information of interests in joint ventures (revised in 2000)
    • IAS 33: Earnings per share (1997)
    • IAS 34: Intermediate financial information (1998)
    • IAS 35: Holdings in definitive interruption (1998)
    • IAS 36: Impairment of the value of assets (1998)
    • IAS 37: Provisions, contingent assets and contingent liabilities (1998)
    • IAS 38: Intangible Assets (1998)
    • IAS 40: Investment Property (2000)
    • IAS 41: Agriculture (2001)