This represents the International Accounting Standards in its Section 17, IFRS for SMEs.

The IFRS for SMEs has several sections, among these, number 17, which aims to prescribe the accounting treatment of property, plant and equipment, so that internal and external users of the financial statements can know at certain times the information about its investments that the entity has in its property, plant and equipment, as well as the movements that have occurred in such investment.

The main difficulties that arise are the recognition of the assets, as well as the determination of their amount in the respective books and the depreciation charges and impairment losses (wear and tear) that must be valued and recognized in relation to them..

It is important to point out that if IFRS 17 is not applied, companies run the risk of having incorrect incorporation and measurement records, as well as aspects related to the depreciation of equipment, generating misinformation on the real financial situation of the companies, with the respective consequences, such as a decrease in the value of the total assets or their overvaluation.

According to the above, the IFRS for SMEs are established for small and medium-sized companies, its relevance is in the number of these small entities that exist in any country, they are a fundamental part of the economy, their contributions to the growth of the same is important, hence the need to implement standards that are appropriate to their administrative and accounting activities.

To conclude we can emphasize that accounting is an aspect of vital importance for companies, because any organization that intends to be successful in its management, must keep an orderly record of its operations, following rules and procedures to avoid errors regarding the handling of money, it also ensures control over the issuance of financial information of companies, which is valid before public and private agencies.

In this sense, it is necessary for every company to have an orderly accounting process, with clear goals and standards, which are adapted to the legal regulations in force in each country and at international level, including those issued by entities trained by professionals in the area.

IASC Foundation (2009) Training material on IFRS for SMEs. Module 17: Property, Plant and Equipment.