Análisis Efectos Financieros y Tributarios Generados por Aplicación de Contabilidad de Coberturas para Gestión del Riesgo Cambiario en Pymes del Sector Comercial en Bucaramanga y su Área Metropolitana según Decreto Único Reglamentario 2420 de 2015

Abstract

In Colombia, the adoption of the International Financial Reporting Standards (IFRS) through Law 1314 of 2009 and Decree 2420 of 2015 sought to standardize financial reporting; however, SMEs in Bucaramanga face high volatility due to exchange rate risk and, although they use forward contracts, they often omit hedge accounting because of its technical and documentation complexity. In this context, the present study analyzes the financial and tax effects derived from the implementation of hedge accounting in companies within the commercial sector, using XYZ Ltda of Bucaramanga as a case study. The research is conducted through a case study comparing three scenarios related to an import transaction of USD 100,000: without hedging, with a forward contract without hedge accounting, and with a forward contract applying hedge accounting, in accordance with IFRS 9 and Section 12 of the IFRS for SMEs. The results show that, without hedging, fluctuations in the representative market exchange rate (TRM) generate volatility in earnings and liquidity risks; with a forward contract without hedge accounting, accounting asymmetry arises due to fair value measurement with changes recognized in profit or loss; whereas when hedge accounting is applied, the effective portion is recognized in Other Comprehensive Income (OCI), improving the liquidity ratio from 0.94 to 1.00 and removing exchange rate effects from EBITDA. In conclusion, hedge accounting constitutes a strategic risk management tool that protects equity, stabilizes financial indicators, and helps ensure that financial statements faithfully reflect the economic reality of commercial SMEs in Colombia.