Incidence of IFRS for SMES in the financial sustainability on the Alpaquero textile sector of Perú, 2018

Abstract

One of the most representative economic sectors in Peru is the textile industry, especially the one focused on alpaca fiber, due to the high quality of raw material that exists in this country. The vast majority of this industry is occupied by large companies, which, with greater capital, better processes and ample capacity for negotiating prices with alpaca fiber producers, generate a type of monopoly dominated by large-scale companies, leaving the Small and Medium Enterprises (SMEs) that enter in this sector relegated, despite its large number, due to its limited resources, both, economic and technical. This research aims to demonstrate that with a correct order in the accounting management, internal control and application of International Financial Reporting Standards (IFRS) for SMEs since an SME starts, it can consolidate its stability over time to through greater financial sustainability. To that end, the company Millma y Qaytu was analyzed, which is an SME that is dedicated to the textile sector based in alpaca fiber. The accounting information was used from the creation of the company until the last available (2015 to 2017), proposing an applied investigation, correlational level, with non-experimental design and applying an adaptation to the specific case of the methodology proposed by (Bowman, 2011) ), which serves to measure the financial sustainability of an entity. As a result of the investigation, it was obtained that IFRS for SMEs have a positive impact on the sustainability of SMEs in the alpaquero textile sector.