Artículo 3.13. PS 1 Paragraph 3.13

An entity’s activities create value for the entity if they enhance or preserve the net present value of the entity’s future cash flows. Conversely, an entity’s activities erode value for the entity if they reduce the net present value of the entity’s future cash flows. Note (a) Creating value is a precursor to generating cash flows. Activities that can create value include investment in know-how, expanding a customer base or increasing production capacity. These activities might require a net cash outflow in the short term but can enhance the entity’s prospects for future cash flows in the long term. (b) Conversely, some activities might increase cash inflows in the short term but can erode value in the long term. For example, producing goods in a way that damages the entity’s reputation might increase sales in the short term but can damage the entity’s sales prospects in the long term.