Integrated Application of IAS 38 and IAS 39 in the recognition and subsequent Measurement of intangibles for SMEs in Colombia

Abstract

International Accounting Standards (IAS) 38 and 39 are fundamental for the recognition and measurement of intangible assets and financial instruments, respectively. However, there is a gap in specific guidance for their integrated application in Colombian MSMEs, which creates accounting and financial challenges. The objective of this article is to analyze from a critical and analytical perspective the joint application of IAS 38 and IAS 39 in the context of MSMEs in Colombia, focusing on the recording and subsequent measurement of intangible assets. To this end, a comprehensive documentary review of current regulations, academic literature published since 2020, and analysis of practical cases applied to the Colombian MSME sector were conducted. An interpretive approach was used to identify challenges, benefits, and best practices.Among the main results, gaps in the conceptual differentiation between intangible assets and financial instruments, limitations in regulatory training for MSMEs, and benefits of adopting an integrated framework to improve financial transparency were identified. The main conclusions are that the integration of IAS 38 and IAS 39, accompanied by clear policies and targeted training, will facilitate proper recording and subsequent measurement of intangible assets in Colombian MSMEs, promoting their competitiveness and access to financing.