The new IFRS for Non-Profit Organizations (NIC-ESFL) are already in effect and mandatory.

This framework completely transforms the financial rules for all associations, foundations, and NGOs:

• Net assets: Classified according to donor restrictions.
• Conditional donations: Recorded as liabilities until goals are met.
• In-kind contributions: It is mandatory to value and incorporate volunteer work and donated goods.
• New reports: The Income Statement becomes the Statement of Activities, and the Balance Sheet becomes the Statement of Financial Position.

Critical Deadlines: 2026 is the transition year to adjust opening balances and charts of accounts, heading toward full adoption and comparative reports in December 2026.

Do not risk the continuity of your social programs due to a lack of technical updates.

Do you have questions about how to implement this transition?

Write to us today at info@venegasnexia.com and our team of specialists will guide you step by step.