Business Press Release

To comply with accounting being proposed and which can serve as reliable source of information as a basis for decision-making, it must meet certain requirements and have certain characteristics

According to Article 4 of Decree 2649 of 1993, which states the generally accepted accounting principles in Colombia, the accounts should have the following characteristics:

“In order to adequately meet its objectives, accounting information must be understandable and useful. In some cases it also requires that the information is comparable.
Information is understandable when it is clear and easy to understand.
The information is useful when relevant and reliable.
Information is relevant when it has feedback value, predictive value and is timely.
Information is reliable when it is neutral, verifiable, and the extent to which faithfully represents the economic facts.
Information is comparable if it has been prepared on a consistent basis. “

According to Decree 2649, it comes down to that accounting should be understandable, useful and comparable.

Hence the importance that the company or the employer to design an accounting system that allows this to fully develop its qualities. Ideal to have an ERP complete and efficient.

Today, as designed almost all accounting software ensures to a large extent the development of the qualities required accounting, but for this, it requires sound accounting policies and aimed at accounting can just have the tools necessary to fulfill its objectives.

Perhaps one of the unobserved qualities of accounting, is profit. In our country it is customary to take a delay accounting for a month or even more. In these conditions, the accounting is very useful because the employer never provided the information required so you can make decisions.

In many companies, accounting only useful to meet tax obligations, but not to serve as a support in decision making, since it is always late, and in addition, is not interpreted or analyzed. The entrepreneur is given that while balance sheets may be prepared correctly, nothing will serve you if you explain that they represent.

It is possible that those responsible for accounting, this is understandable, but not for the staff. To this must be explained to mean, that represent all those numbers, otherwise they will be completely useless to not understand its meaning.

To the extent that the counter to ensure that its accounts comply with the qualities that are specific to permit the application of accounting programs, you deliver customer value and thus the greater the degree of satisfaction of this and surely one day the employer no longer see in the accounts rather than spending only serves to meet legal requirements.