13 fundamental principles

Equity: the financial statements must reflect with equity the different interests that are at stake within a company Entity: These are specific economic entities and not their owners when the data is reflected within the accounting March: It must be presumed that there is an operational continuity of the economic entity, so the figures reflected in the financial statements cannot reflect estimated values. Goods: the data refer to economic events, resources and obligations that can be valued in monetary terms. Time period: the financial statements provide information regarding periods of time determined based on the normal cycle of the company's operations. Accrued: all the resources and obligations of the period must be taken into account even if they have not been received or paid. Realization: the results economic should only be reflected when they have been made. This concept is closely linked to the previous one. Historical Cost: the recording of operations is based on historical costs, that is, costs of production, acquisition or exchange of goods. Prudential criterion: the criterion used when repairing the financial statements It must be healthy in relation to the selection on the basis to be used, so that a prudent decision is reached Relative importance: the relative effect on assets, liabilities, equity or on the result of operations for the year must be taken into account accounting Uniformity: quantification procedures must be applied uniformly from one accounting period to another Economic duality: the accounting structure rests on the premise of double entry: resources available for the achievement of objectives and the sources of said Resources Exposure: the financial statements must contain all the information necessary for an adequate interpretation of the financial situation. a of the company to which they refer.

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