5. Accounting and companies of century XXI

Chapter 5



by: josavere


A. GLOBALIZATION: from the beginning of the end of century XX the change phenomenon comes itself presenting permanently with a rhythm much more accelerated as time advances; it is an IRREVERSIBLE phenomenon. Let's start by remembering the pronouncement of the Davos Forum in January / 2020, talking about CONSCIOUS CAPITALISM defining the purpose of a company of the fourth industrial revolution: "to involve all stakeholders in the generation of shared and sustained value including local communities and society. "With the Digital Revolution, a world is generated in which virtual and physical manufacturing systems cooperate with each other in a flexible way at a global level; It is no longer an option to work in isolation due to the clear evolution towards collaboration, not competition.

B. DIGITAL REVOLUTION: now it is spoken of as a “net generation”. We lived surrounded by average digitalizes; the new developments reframe the relations of the company with their investors, the consumers, the suppliers, the distributors, and still with the state, organization that referring to the electronic commerce recognizes these documents legally and it admits them like a test; it gives value to the digital companies; it allows the rent declaration and of customs through cyberspace and it is committed to amassing the Internet reducing the tariffs and creating incentives to establish CALL CENTERS and companies dedicated to the design of Software of pages WEB. 

C. VERY COMPLEX MARKETS: that globalization makes the information easy to the consumer and he turns it more open, more demanding in his habits of purchase, and of course, more and more rational. 

D. ECOLOGICAL CONSCIENCE: the realignment cheap to run worldwide, in addition to quantitative growth looks for qualitative results that guarantee a better standard of living and the preservation of the ambient midway.

The IMF, the BIRF, and IDB condition the approval of credits to environmental policies. The standard ISO 14000, establish the minimal conditions that the companies in that matter will have to consider. 

E. TECHNOLOGY: an application becomes of knowledge; The so advance accelerated of the last few years and the one that is foreseen for the proximate he demands great capability of executives to understand her, to know to appreciate the opportunities that expand and to do fast changes. 

F. SPEED: the mentioned characteristics demand great promptness to understand the information, process it, and take correct decisions. The Human talent will give a comparative advantage, if he is capable of making good use of the basic tools for competitiveness: Knowledge and information, with the height grade of the invention. 

G. GLOBAL FINANCE: that technological development makes the possibility to interact with any city of the world easily enormously. 

The investors that are voracious find too many possibilities to crosswise of the INTERNET and the electronic banking system without caring about the place where they encounter the opportunities because they act through virtual companies from any place. They require big capitals to finance the new technology, the research and development; Achieving the positioning on the market; Doing the investments that the preservation of the ambient midway requires; Developing and capacitating the human resource and attaining the sizes that the big impose multinational that they have penetrated into the country. By means of scissions, he will be coming in for the specialization that makes easy processes of fusion to achieve economies of scale and to complement with alliances strategies, of necessity, to survive. 



a. They are based on the capable people to use the technology and reinventing products and services. The employees must take part in the company’s development.

b. Specialization and great size: family enterprise’s opening imposes itself: There will be no groups directed by a head or a family. They need directors specialized in information systems, communication, and measurement of results to very detailed levels. There will be great pressure for efficiency.

c. Valuable Generation: a lot of flexibility, dynamism, use of technology, invention, and great capability to produce effects as a result of a permanent VALUABLE generation are required, understanding as such, the real growth of the patrimony and his reflection in the market value with a tall index of brassily.

There will be great pressure for efficiency like base to penetrate into international markets and to attract investors.

Due to the scarcity of capital in Colombia, we required foreign investment. In New York's bag or Wall Street, worldly financial symbol, where are registered l.600 the companies require themselves like requisite of the entrance, pre-tax earnings for the US $ 2,5 million; One million minimum stock in circulation among the public; Tangible net assets of US$ 16 million and for the less 2,000 shareholders that they have a peak of 100 stock each one.

We must go materializing those models of balance, the structure of capital, and the status of results to be able to take part in grand financial markets in search of investors.



They will have to be of global projection; Recursive, imaginative, innovative, and flexible to become adapted to surprise changes. Levels of pressure unless he affects them in his emotional equilibrium need preparation to understand heights.

They must be specialists in planning practical solutions; Getting ahead of events; Being authentic leaders, understanding as such the working capacity; Big humanists; Giving enough importance to his family life, to his hobbies, and to sports and cultural activities. They require great capability stop to motivate the work of the group; Driving over an idiom; Knowing the development of business at several countries; They must be familiar with the INTERNET, tool that he permits to grow without much infrastructure and above all, they need the great capability to take decisions with a lot of velocities, the principal characteristic of modern life.

Boards of Directors need to know the business to be able to obey a staff function and be like a book true support, and no critic of the administration.



A. UNIVERSAL STANDARDS: it is necessary to participate actively in the structuring of accounting standards of worldwide application and to give directory to go adjusting the bookkeeping of our country, particularly in the treatment of items than long time ago, for a markedly focus pertaining to the treasury, we searched like expenses and that they have true character of investment.

If we talked about business for world globalization, bookkeeping has to define some standards or universal accounting principles. According to The Wall Steel’s information, in 1993 Daimler Benz before his fusion with Chrysler, announced net earnings of US$ 346 million under accounting standards Germany. If he had used North American standards, he would have searched Use’s losses 1000 million.

B. RE-FOCUS OF THE TAX DIRECTION: if human talent constitutes the comparative advantage for the century XXI, it will be necessary to look for mechanisms that they permit calculating his value with measurements that they have worldwide acceptance like the present it Edvinsson and Malone in his book The Capital Intellectual. For his development, the companies require grand investments, to the ones that they must look for the accounting standards to the adequate treatment, because among other things, if the people are going to the very much carry weight and the VALUABLE GENERATION imposes itself, logically will be necessary to give the step to the salaries of risk with objective measurements not to incur in unbalances for predictable situations. The same problems present themselves with investments in the preservation of the ambient midway, the positioning, the research and development, the knowledge and the information, themes of whom right now begins to speak themselves at some European countries. The pertinent reform in tax legislation to make a new epoch suitable is required.

C. SIMPLICITY: advancing in the search of mechanisms for implementing the salaries of risk, the vast majority of the labor force including high-level executives is extraneous to accountancy, but she will be affected by the results that she shows. We needed to look for employers of measure or standards, as usually, we called him, that they are clearly comprehensible and manageable for most people.

The earnings statement must compare the items that affect it with what is foreseen in the PLAN OF VALUABLE generation, which constitutes the starting point of all entrepreneurial exercise and bookkeeper. It must become elaborate with the contest of all of the responsibility centers and the guide must constitute the key element for the evaluation of steps and being for investors, that they need information that it permits comparing the company’s expectations to the alternatives that offer the national and international markets so much of variable income as he fixes. 

D. OPPORTUNITY: nowadays computers are tools of common use.  Cause did we follow presenting Balances on the eve of the end of the trimester of next year? Great quantities of shareholders in Colombia know the results of exercise with three late months that impedes performing on their velocity that circumstances impose it.

The administration must take control of the situation and congregate all of the stakeholders and affected to discuss new-filed dates of been financiers in agreement with the midways that we have to our reach - the first generator of inefficiency -.

Assemblies must be deliberative forums where projections to go constructing indicators of credibility present compared results themselves that they are used as a guide for those concerned and to define the distribution of dividends on the basis of the projection of cash flow.

We are in berry to discuss largely these themes. The universities of the world that have evolved very slowly in front of the digital revolution, must lead the change process in shape fast.

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