Mexico Under NAFTA: Accounting Information In a Changing Economy
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Redalyc
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| Natura: | Artículo científico |
| Lingua: | en |
| Pubblicazione: |
Universidad de Puerto Rico
1998
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| _version_ | 1876428944081682432 |
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| author | Juan M. Rivera |
| author_facet | Juan M. Rivera |
| contents | Mexico Under NAFTA: Accounting Information In a Changing Economy Juan M. Rivera Administración y Contabilidad Mexico has successfully implemented policies to open foreign trade, stabilize the Peso, control inflation, deregulate private business, scale back state enterprises, eliminate bureaucratic red tape, and welcome foreign investment. This process started before NAFTA was considered; however, NAFTA helped in making these economic changes more permanent. Given a more propitious business environment, understanding the financial in- formation reported by Mexican firms constitutes a relevant inquiry. This paper analyzes features of the accounting model used in that economy and compares them against the characteristics of its counterpart accounting practice in the U.S. As a whole, the Mexican accounting practice has achieved a reasonably good level of competence. In their quest to find solutions to problems and issues not yet covered by their accounting norms, the Mexican Accounting Principles Committee has paid close attention to the U.S. GAAP and to the principles advanced by the International Accounting Standards Committee. A new Law of the Securities Market has added mechanisms to guarantee a healthy operation of the secu- rities market and to increase the transparency of transactions and financial disclosures of the companies whose securities are traded in the exchanges. All this is a reflection of the new open economy and free market mechanisms embraced by the Mexican government. 1998 artículo científico 1541-8561 https://www.redalyc.org/articulo.oa?id=63177000002 en http://www.redalyc.org/revista.oa?id=631 Forum Empresarial application/pdf Universidad de Puerto Rico Forum Empresarial (Puerto Rico) Num.1 Vol.3 |
| format | Artículo científico |
| id | redalyc_63177000002 |
| institution | Redalyc |
| language | en |
| publishDate | 1998 |
| publisher | Universidad de Puerto Rico |
| spellingShingle | Mexico Under NAFTA: Accounting Information In a Changing Economy Juan M. Rivera Administración y Contabilidad Mexico Under NAFTA: Accounting Information In a Changing Economy Juan M. Rivera Administración y Contabilidad Mexico has successfully implemented policies to open foreign trade, stabilize the Peso, control inflation, deregulate private business, scale back state enterprises, eliminate bureaucratic red tape, and welcome foreign investment. This process started before NAFTA was considered; however, NAFTA helped in making these economic changes more permanent. Given a more propitious business environment, understanding the financial in- formation reported by Mexican firms constitutes a relevant inquiry. This paper analyzes features of the accounting model used in that economy and compares them against the characteristics of its counterpart accounting practice in the U.S. As a whole, the Mexican accounting practice has achieved a reasonably good level of competence. In their quest to find solutions to problems and issues not yet covered by their accounting norms, the Mexican Accounting Principles Committee has paid close attention to the U.S. GAAP and to the principles advanced by the International Accounting Standards Committee. A new Law of the Securities Market has added mechanisms to guarantee a healthy operation of the secu- rities market and to increase the transparency of transactions and financial disclosures of the companies whose securities are traded in the exchanges. All this is a reflection of the new open economy and free market mechanisms embraced by the Mexican government. 1998 artículo científico 1541-8561 https://www.redalyc.org/articulo.oa?id=63177000002 en http://www.redalyc.org/revista.oa?id=631 Forum Empresarial application/pdf Universidad de Puerto Rico Forum Empresarial (Puerto Rico) Num.1 Vol.3 |
| title | Mexico Under NAFTA: Accounting Information In a Changing Economy |
| topic | Administración y Contabilidad |
| url | https://www.redalyc.org/articulo.oa?id=63177000002 |