The word fiscal derives from the word fiscal, which in Mexico is synonymous with the State, which collects the taxes that it sets its governed unilaterally and compulsory.
It is known to all the obligation that every citizen of any country has to his state, to provide him with monetary resources to sustain the services and functions that the state provides and develops, these resources mainly translate into the payment of taxes, although There are also products, rights and uses that represent other income for the treasury.
Given the economic circumstances that our country is going through, the state should devote special interest in establishing means of control to obtain greater revenue collection that will help it improve its finances, by minimizing tax evasion to the taxpayers, if the state applied correct strategic measures for tax collection, it would not have problems with the budget of expenditures of the federation that is carried out every year, since increasing the taxpayer registry in turn would increase tax collection, also the code The federal prosecutor grants powers to carry out audits of taxpayers to verify the correct payment of their contributions.
Main differences:
In tax accounting, for ease of review and audit, purchases are deducted at 100% in the cost of sales calculation, in financial accounting, the initial inventory is taken plus the purchases less the final inventory, to calculate the inventories used, being these those that take to the cost of the sold thing.
In tax accounting, maximum depreciation rates are imposed by type of asset, in financial accounting, 100% of the estimated number of years of the value of the asset is used as a depreciation percentage. (Law on Income Tax)
In tax accounting, the interest paid is deducted according to the calculation of the inflationary component, in financial accounting, normally 100% of these expenses are deducted.
Tax accounting is used to calculate the corresponding taxes for companies, and financial accounting for decision-making.
Accounting principles have limited time and special validity since they are made for a limited socioeconomic environment. The accounting principles that apply in Mexico do not necessarily have to coincide with those that apply in other countries, unless the socioeconomic reality is similar. The accounting principles that are known today are not the same as those of fifteen years ago; most likely they will not be the same as those that will be in force in the future. Accounting is the product of a certain medium, so that by changing this, accounting is also affected.
Apart from the socioeconomic reality that has been in force in our country, the main influences on the development of accounting principles in Mexico have been the following:
- Accounting practices in the United States and England, basically due to the establishment in Mexico of offices of large international public accounting firms, the existence of subsidiary companies of large international consortia and the demands of international financial institutions., in which the law stipulates the accounting methods that must be applied for tax purposes and the practice of executives of Mexican companies that different accounting methods must not be used for financial and tax accounting.
