The environmental crisis facing our planet is devastating, becoming this one of the most important and representative issues we face today and whose solution we fail to discern the short term. For several years it has been promoting sustainable development as a solution in order to establish the necessary to understand that the use made of natural resources should not exceed the rate of renewal of the same bases. Therefore, this research presents the analysis of Assets and Environmental Costs in International Financial Reporting Standards - IFRS for SMEs in the Municipality of Arauca. With this analysis, the lack of knowledge on environmental accounting and its scope was evident, being necessary for the construction of knowledge reviewing information from reputable sources in these fields within the national and international levels. The realization of this research claim that companies in the municipality of Arauca be made aware against the need to establish environmental policies to help reduce the one hand generated harmful impacts and on the other to avoid the expense represented in fines of legal problems, which could be generated by omission and failure of normativities for these purposes.