Complete Guide to Submitting Information to the Accountant at the End of the Accounting Year.
The annual accounting close is a crucial time for companies, and effective collaboration with your accountant is essential for a smooth and accurate process. Providing the correct and complete information ensures that the accountant can do his or her job efficiently. Here is the essential information you should provide your accountant with [...]
Hedge Accounting in Times of Uncertainty.
Hedge accounting is an attractive option for companies with a lower risk tolerance and seeking a certain degree of certainty. For this purpose, there are financial instruments, called derivatives, that can help generate financial certainty, and hedge accounting exists in accounting. In Chile, […]
How a Volatile Exchange Rate Impacts a Company's Taxation.
The impact of the value of the dollar on the taxation of a company in Chile can be significant, especially if the company carries out transactions in foreign currency.
The importance of having a strategy for your company in difficult economic times.
The IMACEC (Monthly Index of Economic Activity) is a tool used in Chile to measure the evolution of economic activity in the country. It is calculated monthly and provides a short-term view of the state of the Chilean economy. When the IMACEC shows an economic contraction, it means that the economy is slowing down or experiencing a recession in that period.
Why should companies care about sustainability?
Businesses should be concerned about sustainability for a number of reasons ranging from ethical responsibility to efficient, long-term management of their operations. Here are some of the main reasons why companies should place a strong emphasis on sustainability.
ESG Factors and the Role of Accounting
In an ever-evolving business environment, ESG factors have proven to be critical to a company's long-term sustainability and success. The accounting industry has a responsibility to ensure that these factors are effectively integrated into decision making and reporting, thus contributing to building a more responsible and sustainable future.
What are SASB Standards?
In a world increasingly aware of the importance of sustainability and corporate responsibility, standards play a crucial role in the evaluation and communication of business practices.
IFRS 15: Recognition of Revenue from Contracts with Customers.
International Financial Reporting Standard 15 (IFRS 15) is an accounting standard issued by the International Accounting Standards Board (IASB) that deals with the recognition of revenue from contracts with customers. It was issued in May 2014 and applies to all entities that adopt [...]...
IFRS 16: Accounting Treatment of Leases
In January 2016, the International Accounting Standards Board (IASB) issued International Financial Reporting Standard 16 (IFRS 16) on leases, which has revolutionized the accounting world by completely changing the way companies must account for leases in their financial statements. IFRS 16 became effective January 1, 2019, replacing the previous IAS 17 Leases.
I am exempt from bookkeeping, am I not?
As from 2020, tax year 2021, the new tax regimes included in Law No. 21,210 on tax modernization will come into force: (i) Article 14 letter A, full regime, (ii) Article 14 letter D number 3, pro-small and medium-sized companies regime, and (iii) Article 14 letter D number 8, transparent pro-small and medium-sized company regime. The pro-SME and transparent pro-SME regimes calculate their taxable base [...].