Agreement Reforming the Conceptual Framework of Governmental Accounting

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DOF: 13/08/2026

AGREEMENT reforming the Conceptual Framework of Governmental Accounting

A logo appears at the margin, stating: National Council for Accounting Harmonization.

The

National

Council

for

Accounting

Harmonization

based on

articles

6,

7,

9,

14

and

21

of the

General Law of Governmental Accounting,

approved the

following:

AGREEMENT

BY WHICH

THE

CONCEPTUAL

FRAMEWORK

OF

GOVERNMENTAL

ACCOUNTING

IS REFORMED

Considering

That on December 31, 2008, the General Law of Governmental Accounting (LGCG) was published in the Official Journal of the Federation, which has as its object establishing the general criteria that will govern Governmental Accounting and the issuance of financial information by public entities, with the aim of achieving their adequate harmonization, to facilitate for public entities the recording and auditing of assets, liabilities, income and expenses and, in general, contribute to measuring the effectiveness, economy and efficiency of public expenditure and income.

That within this framework and in compliance with its functions, the National Council for Accounting Harmonization (CONAC) published in the Official Journal of the Federation on August 20, 2009, the Agreement by which the Conceptual Framework of Governmental Accounting (MCCG) is issued.

That it is necessary to reform the MCCG so that the financial information is consistent with the regulations issued by CONAC and to ensure its alignment with the objectives provided for in the LGCG.

For the foregoing, the National Council for Accounting Harmonization approved the following:

Agreement by which the Conceptual Framework of Governmental Accounting is reformed

SINGLE ARTICLE. The Conceptual Framework of Governmental Accounting is reformed, to incorporate, as supplementary regulation, the Sustainability Information Standards; it incorporates in section B) Scope of Application of numeral I. Characteristics of the Conceptual Framework of Governmental Accounting, the treatment applicable to public entities regulated by the National Banking and Securities Commission and the National Insurance and Bonds Commission; it homologates the reference of the General Law of Governmental Accounting as LGCG, and it modifies various paragraphs of the Conceptual Framework of Governmental Accounting to specify, update and harmonize concepts and content with the regulation issued by the National Council for Accounting Harmonization; it modifies numeral III. Basic Postulates of Governmental Accounting to remain only listed; it modifies the denomination of numerals V. Qualities of the financial information to produce and VI. "Budgetary, Financial and Economic Statements to produce and their objectives" to remain as "V. Qualitative characteristics of the financial information to produce" and "VI On Accounting, Budgetary, Programmatic and Fiscal Posture Indicators Reports"; and from the latter, it modifies sub-paragraphs a) Accounting Information, b) Budgetary Information and c) Programmatic Information, in congruence with the General Law of Governmental Accounting; for which the numerals and the corresponding paragraphs are rearranged.

BACKGROUND

On December 31, 2008, the General Law of Governmental Accounting (LGCG) was published in the Official Journal of the Federation, which has as its object establishing the general criteria that will govern Governmental Accounting and the issuance of financial information by public entities, with the aim of achieving their adequate harmonization, to facilitate for public entities the recording and auditing of assets, liabilities, income and expenses and, in general, contribute to measuring the effectiveness, economy and efficiency of public expenditure and income.

The LGCG is mandatory for the Executive, Legislative and Judicial branches of the Federation, federative entities;

the city councils of the municipalities;

the political-administrative bodies of the territorial demarcations of Mexico City;

the entities of the semi-public administration, whether federal, state or municipal and the federal and state autonomous bodies.

The body responsible for coordinating the harmonization of governmental accounting is the National Council for Accounting Harmonization (CONAC), which has as its object the issuance of accounting standards and guidelines for the generation of financial information that will be applied by public entities, previously formulated and proposed by the Technical Secretariat.

...

For the foregoing, CONAC, within the framework of the LGCG, is obliged to have a monitoring mechanism that reports the degree of progress in the compliance of the decisions of said collegiate body.

The Technical Secretariat of CONAC will register the acts that the governments of the federative entities, municipalities and territorial demarcations of Mexico City execute to adopt and implement the decisions taken by CONAC in their respective areas of competence.

The Technical Secretariat of CONAC will be responsible for publishing this information, ensuring that any person can have easy access to it.

The foregoing fulfills the purpose of providing the population with a monitoring tool, through which an account is given of the degree of compliance of the federative entities and municipalities.

Within the framework of the LGCG, the Federative Entities must assume a strategic position in harmonization activities so that each of its municipalities achieves compliance with the objectives that this law orders.

The governments of the Federative Entities must provide the necessary cooperation and assistance to the governments of their municipalities, so that these achieve harmonizing their accounting, based on the decisions reached by CONAC.

Likewise, it is necessary to consider that this agreement is issued with the aim of establishing the bases for the governments:

federal, of the federative entities and municipal to comply with the obligations imposed on them by the fourth transitory article of the LGCG.

The foregoing understood in that the public entities of each level of government must carry out the necessary actions to comply with said obligations.

...

On July 13, 2009, the Advisory Committee delivered to the Technical Secretariat the opinion on the draft Agreement by which the Conceptual Framework of Governmental Accounting is issued.

According to article 21 of the LGCG, accounting will be based on a conceptual framework that represents the fundamental concepts for the preparation of standards, the accounting, valuation and presentation of reliable and comparable financial information to satisfy the needs of users and will allow it to be recognized and interpreted by specialists and interested parties in public finances.

...

CONCEPTUAL FRAMEWORK OF GOVERNMENTAL ACCOUNTING

(MCCG)

...

...

The present MCCG is integrated by the following sections:

2

I.

...

II.

...

III.

...

IV.

...

V. Qualitative Characteristics of the financial information to produce;

VI. On Accounting, Budgetary, Programmatic and Fiscal Posture Indicators Reports;

VII.

...

I. CHARACTERISTICS OF THE CONCEPTUAL FRAMEWORK OF GOVERNMENTAL ACCOUNTING

A) OBJECTIVES

The MCCG has as purposes:

3

a) Establish the essential attributes to develop governmental accounting regulation;

...

...

B) SCOPE OF APPLICATION

a) Legal

...

...

Governmental accounting in its valuation, records and resulting information, and in any aspect related to the GCS, must be consistent and show that the legal provisions applicable to it have been observed in every transaction carried out by the public entity, fully exposing the effect of said transactions or internal modifications in its financial position and in the results.

The GCS must allow the presentation of the financial position and the results of operations in a reasonable manner.

5

In article 1, second paragraph, of the General Law of Governmental Accounting (LGCG), the public entities to which it is applicable are defined.

6

b) Institutional

...

...

The MCCG is based on the LGCG, which grants CONAC the attribution of being the coordinating body for the harmonization of governmental accounting, having as its object the issuance of accounting standards and guidelines for the generation of financial information that will be applied by public entities.

10

In the federal administration, the administration of the federative entities, municipalities, territorial demarcations of Mexico City and their respective semi-public entities, the administrative unit or competent instance in matters of governmental accounting will be the one that gives compliance to the application of the LGCG, according to the corresponding legal orders, adopting and implementing the decisions taken by CONAC.

11

The supplementary nature of the MCCG and the regulation derived from it will be:

12

a) The Regulation issued by the administrative units or competent instances in matters of Governmental Accounting;

b) The International Public Sector Accounting Standards (IPSAS), as well as the other regulation related to reports related to sustainability and climate, issued by the International Public Sector Accounting Standards Board (International Federation of Accountants);

c) The Financial Information Standards and the Sustainability Information Standards issued by the Mexican Council of Financial Information and Sustainability Standards (CINIF).

Public entities must submit to the Technical Secretariat of CONAC, the proposal for accounting recording, as well as the effects that this will produce in the financial information, before its application, in order that it is analyzed, proposed and, when appropriate, the corresponding regulation is issued.

The supplementary nature can be applied when it does not contravene the provisions of the LGCG, the Federal Budget and Fiscal Responsibility Law, the Financial Discipline Law of the Federative Entities and the Municipalities, as well as the provisions published by CONAC, and the other budgetary provisions issued by the competent authorities.

The application of the supplementary regulation will be the responsibility of the public entity.

13

Public entities regulated by the National Banking and Securities Commission and by the National Insurance and Bonds Commission that use the regulation that these commissions emit in accounting matters, remain subject to the provisions provided for in the LGCG and to the regulation of CONAC.

14

II. GOVERNMENTAL ACCOUNTING SYSTEM

A) GENERAL CONSIDERATIONS

...

15

...

...

In the GCS, there is active inter-institutional participation, among others:

19

a)

...

b) The Advisory Committee, who will propose to the Technical Secretariat the creation or modification of accounting standards and the issuance of financial information, giving also opinion on them, among others;

c)

...

d)

...

Through financial information, structured in different types of reports that comply with the regulation and guidelines, supported by the recording and conservation of accounting in information systems.

20

B) OBJECTIVES OF THE GCS

...

...

C) CHARACTERISTICS OF THE GCS

...

...

III. BASIC POSTULATES OF GOVERNMENTAL ACCOUNTING (PBCG)

They are the fundamental elements that configure the GCS, having an impact on the identification, analysis, interpretation, capture, processing and recognition of transformations, transactions and other events that affect the public entity and technically support the recording of operations, the preparation and presentation of financial statements, based on their reasoning, demonstrated efficiency, support in specialized legislation and application of the LGCG, with the purpose of uniforming accounting methods, procedures and practices.

23

Below, the Basic Postulates of Governmental Accounting are listed, whose complete content, scope and development are provided for in the Agreement by which the Basic Postulates of Governmental Accounting are issued:

24

1. Economic Substance

2. Public Entities

3. Permanent Existence

4. Sufficient Disclosure

5. Relative Importance

6. Recording and Budgetary Integration

7. Consolidation of Financial Information

8. Accrual Accounting

9. Valuation

10. Economic Duality

11. Consistency

IV. FINANCIAL INFORMATION NEEDS OF USERS

...

25

a)

...

b)

...

c) Public entities, to carry out the evaluation, monitoring and internal control of their operations; as well as to prepare statements, reports and reports in order to know their accounting and budgetary situation in the efficient use of public resources, safeguard public property, account for their management and set public policies;

d)

...

e)

...

V. QUALITATIVE CHARACTERISTICS OF THE FINANCIAL INFORMATION TO PRODUCE

...

26

Governmental Accounting can be understood as the technique that supports a recording system that processes budgetary, accounting and economic events of public entities.

In this sense, financial reports and statements must be prepared in accordance with practices, methods, procedures, particular and general rules, as well as legal provisions, with the purpose of generating information that has validity and relevance in the areas of public entities, that is reliable and comparable, that responds to the needs and requirements of accountability and auditing, contributing certainty and transparency to governmental financial management.

27

...

1. USEFULNESS

For financial information to be useful it must cover the requirements for accountability, auditing and decision-making; in general, it must have the quality of providing data that serves the purposes of those who use it; that is, it reasonably satisfies the needs of the different users, relative to the financial management of public entities, considering the institutional hierarchy of these users.

30

...

e) Sufficient information

Financial information must present all significant elements and aspects (of the transaction and of the public entity), which implies a process of identification and selection of the concepts that will be included, and the manner in which they must be recognized.

43

This characteristic refers to the incorporation of relevant information in the financial statements and their notes, given that it exercises influence in decision-making, necessary to evaluate and audit the financial situation of the public entity, as well as the changes that affect Public Finance, ensuring that the volume of information does not go to the detriment of its usefulness, and can give rise to important aspects passing unnoticed for the general user.

44

...

VI. ON ACCOUNTING, BUDGETARY, PROGRAMMATIC AND FISCAL POSTURE INDICATORS REPORTS

...

...

The generation of statements and financial information is periodic, when it is presented monthly, unless by its nature it is generated with another periodicity.

However, it must be published monthly or quarterly, according to the applicable regulation for such effect.

59

a) Accounting Information

Below, the accounting statements and information are listed, whose purpose and formats are provided for in Chapter VII On Accounting, Budgetary, Programmatic and Fiscal Posture Indicators Reports, of the Governmental Accounting Manual issued by CONAC:

a) Statement of Activities;

b) Statement of Financial Position;

c) Statement of Variation in Public Finance;

d) Statement of Changes in Financial Situation;

e) Statement of Cash Flows;

f) Analytical Statement of Assets;

g) Analytical Statement of Debt and Other Liabilities;

h) Reports on Contingent Liabilities;

i) Notes to Financial Statements.

60

In some cases, entities of the Semi-Public and Paramunicipal Sector, according to other specific information requirements, present additional accounting financial statements to those they are obliged to prepare in accordance with the LGCG and the regulation issued by CONAC, and whose importance lies in presenting, among others, the financial position and the result of operations in a given accounting period.

61

b) Budgetary Information

Below, the budgetary statements and information are listed, whose purpose and formats are provided for in Chapter VII On Accounting, Budgetary, Programmatic and Fiscal Posture Indicators Reports, of the Governmental Accounting Manual issued by CONAC:

a) Analytical Statement of Income;

b) Analytical Statement of the Exercise of the Expenditure Budget, from which the following classifications will be derived:

1. Administrative;

2. Economic;

3. By object of expenditure, and

4. Functional;

c) Net Debt;

d) Interest on Debt;

62

Regarding the Fund Flow that summarizes all budgetary operations, it is indicated that, in order to present aggregated information, public entities must report on budgetary income and expenditures for the determination of the budget balance, the primary balance and net financing.

For this, it is considered that the report of the Fiscal Posture Indicators presented in the Annual Public Account contains said summarized budgetary information.

63

c) Programmatic Information

· Expenditure by programmatic category

It has as its purpose to inform on the behavior of the budget in an organized manner in accordance with the budgetary programs established in the programmatic classification issued by CONAC.

64

...

...

d) Complementary information to generate national accounts and attend other requirements from international organizations of which Mexico is a member.

...

...

VII. DEFINITION OF THE BASIC STRUCTURE AND MAIN ELEMENTS OF THE FINANCIAL STATEMENTS TO BE PREPARED.

...

...

TRANSITORY ARTICLES

FIRST. This Agreement will enter into force the day following its publication in the Official Journal of the Federation and its application will be mandatory starting January 1, 2027.

SECOND. The federative entities, in compliance with what is provided in article 7, second paragraph, of the General Law of Governmental Accounting, must publish this Agreement in their official written and electronic media of dissemination, within a period of 30 business days following the publication of the present in the Official Journal of the Federation.

THIRD. In terms of article 15, third paragraph, of the General Law of Governmental Accounting, the Technical Secretariat of CONAC will keep a record on an Internet page of the acts that the public entities of the federative entities, municipalities and territorial demarcations of Mexico City carry out to adopt the decisions of the Council.

For such effects, the accounting harmonization councils of the federative entities will send to the Technical Secretariat the information related to said acts to the electronic address conac_sriotecnico@hacienda.gob.mx, within a period of 15 business days counted from the conclusion of the period fixed in the previous transitory article.

In Mexico City, being the fourteen hours of the day 03 of August of the year two thousand twenty-six, based on articles 11 of the General Law of Governmental Accounting;

8 section IV and 23 section IX of the Internal Regulations of the Secretariat of Finance and Public Credit and rule 20 of the Operation Rules of the National Council for Accounting Harmonization, the Head of the Governmental Accounting Unit of the Undersecretariat of Expenditures of the Secretariat of Finance and Public Credit, in my capacity as Technical Secretary of the National Council for Accounting Harmonization,

HEREBY MAKE CERTIFY AND CERTIFY that the document consisting of 5 useful pages, initialed and collated, corresponds to the text of the Agreement by which the Conceptual Framework of Governmental Accounting is reformed, approved by the National Council for Accounting Harmonization, which was available to the

...

view

of

the

members

of

said

Council

in

their

second

session

held,

in

first

call,

on

July

29

of

the

current

year,

situation

that

is

certified

for

the

legal

effects

conducive.

The

Technical

Secretary

of

the

National

Council

for

Accounting

Harmonization,

Master

Gerardo

Almonte

López .- Signature.

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