Analysis of the application of accounting and financial models in the medium private company of the municipalities of Espinal, Guamo, Saldaña and Purificación of Tolima, Colombia" (Original)

Abstract

The research explains the accounting and financial models employed in the private medium-sized enterprises of the municipalities of Espinal, Guamo, Saldaña and Purificación. According to the information provided by the “Chamber of Commerce of the South- East of Tolima” and the entrepreneurs surveyed, the models with the highest index of use were the financial model IFRS, the traditional model, the causation model and the cash system model. In addition it was found that the medium businessman in the south-east of Tolima does not know the operation of IFRS, but he implements some type of accounting model and believes that the performance of his company is correlated with this. However, when they were asked about the possibility of an operational change in the accounting management, they had a willingness to recognize that the traditional systems have been short to supply the demands of the market in terms of information organization. Likewise, it was possible to characterize the medium-sized company of the south-east of Tolima, which is mainly linked to the services sector and focused in the cities of Melgar and Espinal; As for the mercantile registry of these companies, in the last five years, the number of cancellation of renewals has increased and the number of new registrations has not been very significant.