For small and medium-sized companies in Venezuela, the guidelines, procedures and methods that must be developed for the accounting treatment of both primary and derivative financial instruments, being essential to know the accounting guidelines for both basic and complex financial instruments, even though complex financial instruments are not frequently used in the country, it is essential to know the different accounting procedures that must be applied for the different financial instruments in order to complement the accounting information and to know the range of possibilities to apply the appropriate accounting treatment.

The role played by the accounting sciences for mankind is transcendental, since their function is to provide financial information in a real and accurate way to the economic activities developed. However, the changes that have occurred in international markets due to the globalization process have generated a series of changes and modifications in the accounting praxis, making it necessary to standardize the financial information, which generated discomfort when comparing the financial information of national companies with international companies, generating doubts and inconsistency of the real financial information.

Accounting is a science as old as mankind itself, since from the beginning of time man has felt the need to know and record the information derived from economic activities.

Under this accounting perspective, the International Accounting Standards" and the International Financial Reporting Standards arise, in order to standardize accounting information globally, however, the adoption of these standards has been gradual, generating in some countries doubts and lack of methods, in Venezuela has opted for voluntary certification with the International Financial Reporting Standards applicable to small and medium enterprises, from 2011 through a series of topics, such as: conceptual aspects, basic principles, financial instruments, inventories, investment properties, property, plant and equipment, leasing, impairment of the value of assets.