Models of Economics Development and Accounting Practices in Colombia

The paper will focus on the analysis of the models of economic development in Colombia and its relationship to accounting practices. In order to examine the dynamics of the transit of the model of industrialization by import substitution, the model financialization of global competitiveness of markets.

The implementation of models of economic development has demanded specific accounting information systems. Therefore, both information systems, focused on the planned control of industrial development, as financial and accounting information systems, focused on fair value, which are intended to align with financial markets and meet the requirements of the new global financial architecture have been applied in Colombia.For the methodological approach, shall take into account the analysis of the models of information and decision making management of the big business in Colombia, both in the process of consolidation of the industrial capital, and in the process of insertion into the globalized financial flows.

Colombian economic context has been marked by the adoption of models of economic development promoted by exogenous dynamics associated with international capital, which has involved adjustments to organizational and informational level   in order to implement the guidelines of global capitalism.

In historical perspective, accounting as instrumental rationality of capitalism, provides empirical evidence, from the level of information and the decision, for the analysis of economic areas and management. In this sense, accounting practices relate to the inclusion of new business dynamics in the global financial market.Actually, the dynamic role of accounting in the global context, implies interpreted more widely, the logic of economic control which emerges from the practices of accounting and financial information.

The central problem of the paper aims to establish the relationships between the models of development, and the dynamics of accounting practices in our context, in order to analyze the relationship between key economic strategies and the homogenization of information accounting and financial practices.To explain these relationships it is relevant to consider the dynamics of the process of economic and corporate globalization; as well as the impact of the process of homogenization of the regulation of international accounting and financial information.