International Financial Reporting Standards and the accounting process in Agro-export Companies in Barranca Province

Abstract

Objective: Determine the influence of International Financial Reporting Standards in the accounting process of Agroexport Companies in the Province of Barranca. Methods: The population under investigation was established at 460 officials, with a sample made up of 210 among managers, officials and employees of agro-export companies in the Barranca province. The research adopted was of an applied type. The techniques implemented consisted of the use of the survey system through questionnaires, applied through simple random sampling. The design followed was nonexperimental and transversal in nature, having a descriptive, explanatory and analytical nature. Results: The analysis of the data revealed that the impact of IFRS is strongly manifested in the financial statements, reaching 58% influence. Specifically, in the income statements and financial situation, this influence rises to 68%. In parallel, in the statement of cash flows, this influence acquires a significant weight of 75%. Regarding the state of change in equity, the International Financial Reporting Standards exerts an influence of 62%. The financial indicators, for their part, are affected by 65%, while the economic indicators are affected by 63%. Liquidity, as a crucial factor, experiences an impact of 66%, and performance capacity 69%. Profitability, in its intrinsic relationship with the accounting process, has an incidence of 58% in the Agro-export Companies of the Province of Barranca. Conclusions: It is established incontrovertibly that IFRS exert a marked influence on the Accounting Process of Agro-export Companies. These guidelines impose a set of provisions and procedures that must be applied precisely in order to subject accounting operations to analysis. Likewise, they are responsible for directing the preparation and presentation of the Financial Statements, whose significance lies in the provision of reliable and relevant information for Management, and ultimately, to be used in the decision-making process that supports the achievement of objectives and goals outlined in strategic planning.