RECONOCIMIENTO CONTABLE DE AVANCE DE OBRA EN CONSTRUCTORAS DE INFRAESTRUCTURA EN ECUADOR

Abstract

Financial information required by users and Management in infrastructure constructing companies in Ecuador for purposes of analysis in order to take economic decisions is mostly contained in financial statements as statement of profit and loss and other comprehensive income and statement of financial position, prepared in reference to frameworks as the International Financial Reporting Standards (IFRS) and accounting and tax laws and regulations. Although Ecuadorian frameworks provide general guidelines for financial statements preparation, in the professional accounting practice it´s perceived a lack of alignment between corporate and tax laws in addition to specific issues related to the “stage of completion” estimations that allows to measure the performance and financial position through the whole project´s construction period because there is a degree of uncertainty about how valid are some specific methods used to prepare the accounting information. Every method comprehends significant estimations determined through Management´s assumptions, and no method has been officially accepted by regulative and control entities, moreover there aren´t enough local sources of accounting and tax models suitable to infrastructure constructing companies. In this Paper it´s exposed conceptually a suggested method for recognition and measurement of the stage of completion estimation which has technical and regulatory validity for accounting and tax purposes in Ecuadorian infrastructure constructing companies, all as a result of the qualitative analysis to be performed based on practices, frameworks and regulations available in Brasil