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This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 16 - February 2025 (CUD release)

Content update

This CUD release focuses on the legislative content changes for the period ending June 2024.
  • Financial period type: 12-months (annual)
  • Compliance until: year end June 2024
  • Target industry type: Manufacturing, Services, and Generic (excluding Financial Services)
Legislative updates
New standards, interpretations, and improvements to Mexican Financial Reporting Standards (FRS) that will become effective January 1, 2025.
  • Conceptual Framework
    : Improvements to Mexican FRS A-1.
  • Statement of Cash Flows
    : Improvements to Mexican FRS B-2.
  • Earnings per Share
    : Improvements to Mexican FRS B-14.
  • Foreign Currency Translation
    : Improvements to Mexican FRS B-15.
  • Comprehensive Income Statement
    : Improvements to Mexican FRS B-3.
  • Financial Statements of Non-Profit Entities
    : Improvements to Mexican FRS B-16.
  • Accounts Receivable
    : Improvements to Mexican FRS C-3.
  • Property, Plant, and Equipment
    : Improvements to Mexican FRS C-6.
  • Financial Instruments Payable
    : Improvements to Mexican FRS C-19.
  • Financial Instruments to Collect Principal and Interest
    : Improvements to Mexican FRS C-20.
  • Revenue from Contracts with Customers
    : Improvements to Mexican FRS D-1.
Early adoption for accounting standards
These standards and interpretations improved as of January 1, 2025. Entities can now use the disclosures indicated in the NIFs in advance for fiscal year 2024.

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