The purpose of the following document, intends to review the financial, tax and management impact on organizations generated by the process of convergence towards international financial reporting standards of small and medium enterprises (SMEs), Paloquemao sector in the city of Bogota DC, and especially the companies linked to the Civic Association Paloquemao Shopping Center, which, implemented the implementation under accounting standards applying the regulatory decrees 2420 and 2496 of 2015. In the same way, evaluate and identify the impacts of the tax reform for this type of entities given in the 1819 law of 2016, therefore, the survey instrument is analyzed, which were the criteria for recognition, measurement, change in the organizational management presented by the companies under study, in the financial statements as a whole as of December 31, 2017 and the fiscal impact calculations.