Regulatory Alerts2011-05-06 | CD-SIBOIF-675-2-MAY6-2011Added · Updated
Norm on the Evaluation of Accounts Receivable Balances and Assets Acquired in Recovery by General Warehouses
This resolution establishes mandatory provisioning percentages for accounts receivable based on aging stratas, requiring 50% provision for balances over 90-120 days, 70% for over 120-150 days, and 100% for over 150 days. It mandates that general warehouses evaluate acquired assets at least every three years for real estate and semi-annually for movable property, with specific valuation criteria tied to NIIF 5 and NIIF 13 standards. The regulation sets strict provisioning timelines for recovered assets, demanding 100% provision after six months for movable goods and up to 24 months for real estate, while defining accounting treatments for reclassification and profit/loss recognition upon sale.
More like this from SIBOIF
We email you every new SIBOIF publication the day it's published.