ANEXO III ASPECTOS CONTABLES Y DE AUDITORÍA

This chapter contains details of the main accounting, commercial bookkeeping and audit obligations to be observed by Spanish enterprises. According to Spanish legislation, all enterprises are required to keep orderly accounts, in keeping with their business, including a book of inventories and balance sheets book and a journal.
Companies must also keep one or more minutes books in which all the resolutions adopted by the annual and special shareholders’ meeting and other collective bodies of the company must be recorded.

The Spanish National Chart of Accounts approved by Royal Decree 1514/2007, of November 16, 2007, establishes, in accordance with the European Union’s accounting convergence process, the accounting principles that aim to ensure that financial statements, prepared clearly, present fairly a company’s equity, financial position and results of operations, incorporating the accounting criteria contained in the International Accounting Standards.

1. Legal framework

The basic legislation setting out the legal framework in the sphere of accounting law is embodied in Spanish corporate legislation and has been amended in recent years in response to the mandatory harmonization of that legislation with EU Directives, specifically, with Directive 2013/34/EU of the European parliament and of the council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/ EEC and Directive 2006/43 on statutory audits of annual accounts and consolidated accounts.

In this regard, the aforementioned Community legislation had been approved as a result of the need for international accounting harmonization, in order to, inter alia, (i) ensure the transparency and comparability of financial statements; (ii) achieve efficient operation of EU capital markets; (iii) close the legal vacuums in the somewhat scant regulations for the accounting Directives and their similarly low level of implementation and (iv) clarify the diversity of legislation.

From the standpoint of accounting, the approval of Regulation (EC) no. 1606/2002 of the European Parliament and of the European Council, of July 19, 2002, in relation to the application of International Accounting Standards (IASs) in the European Union, and the report on the current situation of accounting in Spain and the basic lines to undertake its reform, also known as the White Paper on Accounting Reform in Spain, published by the Spanish Accounting and Audit Institute (ICAC) on June 25, 2002, marked the starting point for the direction that was to be taken in the accounting reform process as a whole in Spain.

That Regulation made it obligatory for companies to apply the IASs approved by the IASB (International Accounting Standards Board), for each financial year starting on or after January 1, 2005, with respect to their consolidated financial statements if at their balance sheet date their securities are admitted to trading on a regulated market of any member state.

The Member States were also given the option to allow or require those standards to be applied to the separate financial statements of listed companies, to the consolidated financial statements of unlisted companies and to the separate financial statements of unlisted companies.

In this regard, in Spain it was established that the general approach to be adopted should not be the direct application of IASs or IFRSs (International Financial Reporting Standards) in their most recent version, but rather to adapt Spanish GAAP thereto, solely introducing the accounting treatments that the aforementioned standards establish on an obligatory basis, and where IFRSs establish different accounting treatment options, taking the option that the legislature considered to be the most prudent and in keeping with the tradition in Spanish accounting practice.

Also, a hierarchy of sources was established to distinguish between (i) fundamental legislation, i.e. the Commercial Code and the Revised Spanish Corporations Law1, which must contain basic, stable and lasting principles; (ii) implementing regulations, i.e. the Spanish National Chart of Accounts, its industry adaptations (as described below) and (iii) the resolutions of the ICAC, which would contain more detailed rules, the contents of which could be modified with greater ease.

This point marked the start of a process of reform in Spain, firstly, with the approval of Law 62/2003, of December 30, 2003, on Tax, Administrative, Labor and Social Security Measures which was the first step taken in the adaptation of Spanish corporate accounting legislation for its international harmonization based on European legislation.

This process reached its maximum expression in 2007 when important legal provisions were passed, wrapping up the main areas in the process of adapting Spanish accounting legislation to international accounting legislation:

  • Law 16/2007, of July 4, 2007, reforming and adapting Spanish corporate accounting legislation for its international harmonization based on European legislation, which made significant amendments to the Commercial Code, and to the then in force Revised Spanish Corporations Law, Limited Liability Companies Law and other industry-based accounting standards and, lastly, adapted for the first time the Corporate Income Tax Law to the new accounting legislation.
  • Royal Decree 1514/2007, of November 16, 2007 approving the Spanish National Chart of Accounts (the Spanish National Chart of Accounts).
  • Royal Decree 1515/2007, of November 16, 2007 approving the Spanish National Chart of Accounts for small and medium enterprises (SMEs) and the specific accounting rules for very small enterprises (VSEs).
  • Royal Decree 1159/2010, of September 17, approving the Standards for the Preparation of Consolidated Financial Statements and amending the National Chart of Accounts approved by Royal Decree 1514/2007, of November 16, and the National Chart of Accounts for Small and Medium Enterprises, approved by Royal Decree 1515/2007, of November 16.

In addition, there has been a process for the adoption of additional industry-based accounting legislation, as a result of which the following industry adaptations to the new Spanish National Chart of Accounts have been approved:

  • Royal Decree 1317/2008, of July 4, approving the Spanish National Chart of Accounts for insurance companies.
  • Order EHA/3360/2010, of December 21, approving accounting standards for cooperative companies.
  • Order EHA/3362/2010, of December 23, approving the rules adapting the Spanish National Chart of Accounts to concession holders for public infrastructure.
  • Order EHA/733/2010, of March 25, approving accounting standards for public companies operating in certain circumstances.
  • Royal Decree 1491/2011, of October 24, approving the provisions adapting the Spanish National Chart of Accounts to not-for-profit entities and the model action plan for not-for- profit entities.

Mention should be made, in view of their importance, to the changes to Spanish accounting legislation introduced by Royal Decree 602/2016 of December 17, 2016. These changes were obligatory in view of the eighth final provision of the Accounting Audit Law 22/2015 of July 20, 2015 and the first final provision of Law 16/2007 of July 4, 2007 for the reform and adaptation of commercial accounting legislation for the purposes of its international harmonization in line with European Union legislation, their purpose being to lay down the implementing regulations necessary as a result of the changes made to Spanish accounting law by Law 22/2015 of July 20, 2015 (as a result of the process for the transposition of Directive 2013/34/EU of June 26, 2013). Specifically, Royal Decree 602/2016 has introduced important changes to the following rules:

  • The Spanish National Chart of Accounts, approved by Royal Decree 1514/2007 of November 16, 2007.
  • The Spanish National Chart of Accounts for Small and Medium- sized Enterprises approved by Royal Decree 1515/2007 of November 16, 2007.
  • The Rules on the Preparation of Consolidated Financial Statements approved by Royal Decree 1159/2010 of September 17, 2010.
  • The Rules on the Adaptation of the Spanish National Chart of Accounts to not-for-profit entities, approved by Royal Decree 1491/2011 of October 24, 2011.

This draft is currently at the public consultation stage.

In relation to the other industries for which an adaptation was adopted before the approval of the currently in force Spanish National Chart of Accounts (such as, for example, construction companies, real estate companies, sports federations, healthcare companies, sports corporations, electricity companies, companies in the grape growing and wine producing industry), the earlier industry adaptations remain in force, insofar as they do not conflict with the new legislation, in conformity with Transitional Provision number five of Royal Decree 1514/2007, of November 16, approving the new Spanish National Chart of Accounts.

From the audit perspective, Accounting Audit Law 22/2015 of July 20, 2015 marked the culmination of a process for the adaptation of Spanish legislation to Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts (following its amendment by Directive 2014/56) and Community Regulation 537/2014 on specific requirements applicable to so-called public- interest entities.

The existing new legislation is supplemented and construed with the ICAC’s resolutions and responses to requests. Particularly in relation to the interpretation of accounting legislation, it must be borne in mind that the ICAC stated in Ruling 1 of its Official Gazette 74/June, 2008, that where the legislation does not provide for a given matter or there are doubts as to its interpretation, the directors must use their professional judgment while respecting the framework of the new Spanish National Chart of Accounts and “generally accepted accounting principles in Spain”. Also, the ICAC states that, although IFRSs may serve as an interpretative criterion, their mandatory application on a supplementary basis to separate financial statements is not envisaged. Notwithstanding this, IFRSs will apply directly to the consolidated financial statements of listed entities.

2. Accounting records

The rules governing the accounting records that have to be kept by companies are contained in the Commercial Code, which requires all traders to keep orderly books of account that are suitable for their business and to keep a book of inventories and balance sheets and another journal, without prejudice to the records required under laws or special provisions.

Companies are also required to keep a book or books of minutes containing, at least, all the resolutions adopted by the shareholders at the Annual General or Special General Meetings and by the companies’ other collective bodies.

As regards the formal requirements applicable to the accounting records, the Commercial Code provides that companies must present their mandatory books of account to the Mercantile Registry of the place in which they have their registered office in order that they be officially certified and stamped before they start to be used.

Entries and notes may be made by any suitable procedure on separate sheets that must subsequently be bound sequentially to form part of the mandatory books of account, which must be legalized within four months from the end of the related reporting period.

These formal requirements also apply to the share registers of corporations, partnerships limited by shares and limited liability companies, which may be kept on electronic files.

3. Financial statements

Both the Commercial Code and the Revised Spanish Corporate Enterprises Law state that a set of financial statements comprises a balance sheet, an income statement, a statement reflecting the changes in equity during the period, a cash flow statement and notes to the financial statements, with these documents constituting a set of information for these purposes (a directors’ report is also required, although it is not considered to be a constituent part of the financial statements). However, the cash flow statement is not obligatory where so established by a legal provision (e.g. for companies that are permitted to prepare a balance sheet and statement of changes in equity in abridged format, as explained below).

Both the Spanish Commercial Code and Revised Spanish Corporate Enterprises Law provide for accounting principles and measurement bases. Also, the Revised Spanish Corporate Enterprises Law specifies the disclosures to be included in the notes to the financial statements.
The Spanish National Chart of Accounts sets out the contents to be included in the separate financial statements, and its application by all companies is mandatory, regardless of whether their legal form is that of a sole proprietorship or a company, without prejudice to such companies as are in a position to apply the Spanish National Chart of Accounts for small and medium enterprises (SMEs) or the relevant industry adaptations, and constitutes the implementation for accounting purposes of Spanish corporate and commercial legislation.

The content of the Spanish National Chart of Accounts is as follows:

  • Part one: conceptual accounting framework.
  • Part two: recognition and measurement bases.
  • Part three: financial statements.
  • Part four: chart of accounts.
  • Part five: accounting definitions and relationships.

The Standards for the Preparation of Consolidated Financial Statements were approved in Royal Decree 1159/2010.

4. Conceptual accounting framework and recognition and measurement bases

In relation to the practical application of the Spanish National Chart of Accounts, after a first part which sets out the conceptual accounting framework, part two establishes recognition and measurement bases for the various asset, liability and income statement items.

Following is a brief summary of the main features contained in the conceptual framework and in the most significant recognition and measurement bases introduced by the Spanish National Chart of Accounts currently in force.

Table 1

MateriaPlan general de contabilidad (PGC)

Componentes de las cuentas anuales

Las cuentas anuales se componen del balance, de la cuenta de pérdidas y ganancias, del estado de cambios en el patrimonio neto, del estado de flujos de efectivo y de la memoria.

Estado de cambios en el patrimonio neto y estado de flujos de efectivo

Se incluyen como nuevos documentos integrantes de las cuentas anuales, además del balance, cuenta de pérdidas y ganancias y la memoria. Para el estado de flujos de efectivo se opta por el método indirecto para su confección. Por su parte, el estado de cambios en el patrimonio  neto se compone de dos partes: el estado de ingresos y gastos reconocidos y el estado total de cambios en el patrimonio neto.

Requisitos de la información a incluir en las cuentas anuales

La información incluida en las cuentas anuales debe ser relevante y fiable. Una cualidad derivada de la fiabilidad es la integridad. Además, la información financiera debe ser comparable y clara.

Principios contables

Los principios contables obligatorios son: empresa en funcionamiento, devengo, uniformidad, prudencia, no compensación e importancia relativa.

Compensación de partidas

Se aplica el principio de no compensación, salvo que una norma, de forma expresa, disponga lo contrario.
En relación con posibles compensaciones, se establecen las condiciones para poder presentar por su importe neto un activo y un pasivo financiero, así como activos y pasivos por impuestos.

Elementos de las cuentas anuales

Se definen los siguientes elementos: activos, pasivos, patrimonio neto, ingresos y gastos, que se  reconocerán cuando se cumplan los criterios de probabilidad en la obtención o cesión de recursos que incorporen beneficios o rendimientos económicos, y su valor pueda determinarse con un adecuado grado de fiabilidad.
En relación con la valoración de dichos elementos, se incluye una definición de coste histórico o coste, valor razonable, valor neto realizable, valor en uso y valor actual, costes de venta, coste amortizado, costes de transacción, valor contable o en libros y valor residual.

Table 2
CONCEPTUAL ACCOUNTING FRAMEWORK

Elaboración de las Cuentas anuales

Información comparativa

En balance, cuenta de pérdidas y ganancias, estado de cambios en el patrimonio neto y estado de flujos de efectivo deberán figurar las cifras del ejercicio anterior. Asimismo, la información cuantitativa de la memoria también deberá referirse al ejercicio anterior.

Formato de la cuenta de pérdidas y ganancias

Prescribe un modelo definido y obligatorio en formato vertical. Las empresas que no alcancen un determinado volumen de activos, cifra de  negocios y número de empleados pueden optar por un modelo abreviado.

Clasificación de los gastos en la cuenta de pérdidas y ganancias

Se clasifican de acuerdo con su naturaleza.

Distinción en el balance entre corriente y no corriente

Clasificación obligatoria en balance entre partidas corrientes y no corrientes.

Moneda de presentación, funcional y extranjera 

Se definen los conceptos de moneda de presentación, moneda funcional y moneda extranjera.

Diferencias de cambio-Partidas no monetarias

Las diferencias de cambio se reconocen en el patrimonio neto o en el resultado del ejercicio según cómo se registren los cambios de valor de la partida subyacente.

Diferencias de cambio-Partidas monetarias

Las diferencias de cambio, tanto positivas como negativas, se reconocen en la cuenta de pérdidas y ganancias del ejercicio en que surgen.

Altas tasas de inflación

Se enumeran determinadas circunstancias indicativas de altas tasas de inflación. 

Table 3
RECOGNITION AND MEASUREMENT BASES

Inmovilizado material, intangible e inversiones inmobiliarias

Inmovilizado material

Elementos patrimoniales tangibles destinados a servir de forma duradera en las actividades de la empresa mediante su uso en la producción de bienes o suministro de servicios o para fines administrativos.

Inmovilizado intangible

Activos no monetarios sin apariencia física susceptibles de valoración económica e identificación. Se amortizarán en función de su vida útil. No obstante, cuando esta no pueda ser estimada con fiabilidad, se amortizarán en un plazo de 10 años de forma lineal.

Inversiones inmobiliarias

Activos no corrientes que sean inmuebles y se posean para obtener rentas, plusvalías o ambas.

Costes de desmantelamiento, retiro y rehabilitación

La estimación inicial del valor actual de las obligaciones por desmantelamiento, retiro o rehabilitación de un activo formarán parte de su valor.

Capitalización de gastos financieros

La capitalización de determinados gastos financieros en el caso de los inmovilizados que necesiten más de un año para estar en condiciones de uso, resultará obligatoria. Como norma general, sólo se podrán capitalizar intereses antes de la entrada en funcionamiento del elemento.

Permuta de activos

Permutas con carácter comercial. El bien recibido se valora por el valor razonable del activo entregado más las contrapartidas monetarias entregadas a cambio, salvo evidencia más clara del valor razonable del activo recibido y con el límite de este último.
Permutas que carecen de carácter comercial (o aquellas en las que no pueda determinarse el valor razonable con fiabilidad): el activo adquirido se registrará por el valor en libros del activo entregado a cambio más las contrapartidas monetarias que se hubieran entregado, con el límite, cuando esté disponible, del valor razonable del bien recibido si éste fuera menor

Aportaciones de capital no dineraria

Los bienes recibidos se valorarán por su valor razonable en el momento de la aportación, excepto si se puede asimilar a una permuta no comercial. Existen normas particulares si lo aportado represente, directa o indirectamente, un negocio.
Para el aportante se aplicará lo dispuesto en la norma relativa a instrumentos financieros.

Pérdidas por deterioro del valor

Se producen cuando el valor contable supera el importe recuperable.
Las correcciones valorativas por deterioro y su reversión se reconocerán como un gasto o un ingreso.

Reparaciones importantes del inmovilizado material

En la determinación del importe del inmovilizado material se tendrá en cuenta la incidencia de los costes de grandes reparaciones. Estos costes se amortizan durante el período que medie hasta la reparación. Cuando se realice la reparación, su coste se reconocerá como una sustitución si cumple las condiciones para su reconocimiento.

Gastos de investigación y desarrollo

Gastos de investigación. Serán gasto del ejercicio, si bien se podrán activar cuando cumplan determinadas circunstancias.
Gastos de desarrollo.Se activarán cuando cumplan las condiciones establecidas para la activación de gastos de investigación

Gastos de establecimiento

Serán gasto del ejercicio en que se incurra en ellos.

Table 4
INVENTORIES AND NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE

Existencias

Definición

Se incluye una referencia expresa a las existencias en la prestación de servicios.

Descuentos comerciales y financieros

Se deducirá del precio de adquisición de las existencias cualquier descuento, rebaja o similar directamente atribuible.

Gastos financieros

Se incluirán en el precio de adquisición o coste de producción de las existencias que necesiten más de un año para estar en condiciones de venderse.


Activos no corrientes (grupos enajenables) mantenidos para la venta

Activo no corriente mantenido para la venta

Un activo no corriente se clasifica como mantenido para la venta si su valor contable se va a recuperar fundamentalmente a través de su venta en lugar de por su uso continuado.

Table 5
INCOME TAX

  

Consideración de diferencias temporarias

Son aquéllas derivadas de la diferente valoración, contable y fiscal, atribuida a los activos, pasivos y determinados instrumentos de patrimonio propio, en la medida en que tengan incidencia en la carga fiscal futura. Esto incluye, pero no se limita, a las diferencias temporales.
Se basa en el método basado en el balance.

Table 6
LONG TERM EMPLOYEE BENEFITS AND PROVISIONS

Retribuciones al personal a largo plazo

Clasificación de los planes de pensiones a efectos de su tratamiento contable

Distingue entre retribuciones a largo plazo de aportación definida y retribuciones a largo plazo de prestación definida


Provisiones

Valoración

Valor actual de la mejor estimación posible del importe necesario para cancelar o transferir la obligación, registrándose los ajustes que surjan por su actualización como un gasto financiero según se devenguen.

Table 7
FINANCIAL INSTRUMENTS

Provisiones

Préstamos y partidas a cobrar - Valoración inicial y posterior

Valoración inicial: valor razonable más costes de la transacción directamente atribuibles.
Valoración posterior: coste amortizado conforme con método del tipo de interés efectivo.

Valores negociables (distintos de las inversiones en el patrimonio de empresas del grupo, multigrupo y asociadas)

Valoración inicial: valor razonable de la contraprestación entregada más, en el caso de las inversiones mantenidas hasta el vencimiento y de los activos financieros disponibles para la venta, los costes de la transacción directamente atribuibles.
Valoración posterior: valor razonable, excepto las inversiones mantenidas hasta el vencimiento que figuran por su coste amortizado conforme con el método del tipo de interés efectivo.
Las participaciones que no tengan un valor razonable fiable se valoran por su coste menos correcciones de valor.
Los cambios en el valor razonable se reconocen en la cuenta de pérdidas y ganancias, excepto para los activos financieros disponibles para la venta que se registran en patrimonio neto hasta su baja o deterioro.

Inversiones en el patrimonio de empresas del grupo, multigrupo y asociadas

Valoración inicial al coste y con posterioridad por su coste menos el importe acumulado de las correcciones por deterioro.
Las correcciones valorativas se realizan por la diferencia entre su valor en libros y el importe recuperable (es decir, el mayor entre su valor razonable menos los costes de venta y el valor actual de los flujos de efectivo).
Salvo mejor evidencia del importe recuperable, en la estimación del deterioro se tomará en consideración el patrimonio neto de la participada corregido por las plusvalías tácitas existentes en la fecha de la valoración.

Inversiones mantenidas hasta el vencimiento (deterioro de valor)

Diferencia entre el valor en libros y el valor actual de los flujos de efectivo descontados o el valor de mercado del instrumento.

Activos financieros disponibles para la venta (deterioro de valor)

Diferencia entre coste o coste amortizado menos correcciones valorativas reconocidas previamente en la cuenta de pérdidas y ganancias y el valor razonable en el momento de la valoración. En el caso de inversiones en instrumentos de patrimonio valorados al coste (por no poderse determinar con fiabilidad su valor razonable), se aplicará lo dispuesto respecto al deterioro de valor de inversiones en el patrimonio de empresas del grupo, multigrupo y asociadas.

Pasivos financieros mantenidos para negociar y otros pasivos financieros a valor razonable con cambios en la cuenta de pérdidas y ganancias

Valoración inicial: Valor razonable. 
Valoración posterior: Valor razonable sin deducir los gastos en que se puedan incurrir por su enajenación. Los cambios en el valor razonable se imputan a la cuenta de pérdidas y ganancias.

Transacciones con instrumentos de patrimonio propio

Se registrarán en el patrimonio neto, como una variación de los fondos propios, y, en ningún caso, podrán reconocerse como activos financieros.

Resultados obtenidos en transacciones con instrumentos de patrimonio propio

No podrá registrarse resultado alguno en la cuenta de pérdidas y ganancias.

Instrumentos financieros compuestos

Sus componentes de pasivo y patrimonio propio se reconocen, valoran y presentan por separado.

Derivados

Valoración inicial: Valor razonable. 
Valoración posterior: Valor razonable sin deducir los gastos en que se puedan incurrir por su enajenación. Los cambios en el valor razonable se imputan a la cuenta de pérdidas y ganancias. Existen normas particulares para las denominadas "coberturas contables".

Acciones preferentes

No se trata expresamente. Podrían ser un pasivo financiero contablemente.

Préstamos participativos

No se especifica nada al respecto.

Table 8
BUSINESS COMBINATIONS

  

Combinaciones de negocios: Consideración general

En el caso de otras operaciones de fusión o escisión y de combinaciones de negocios que surjan de la adquisición de todos los elementos patrimoniales de una empresa o de una parte que constituya uno o más negocios se adopta el método de adquisición.
En el caso de adquisición de acciones, se remite a la norma de valoración de instrumentos financieros.

Combinaciones de negocios entre empresas del grupo

En las fusiones entre empresas del grupo en las que interviene la dominante y su dependiente, directa o indirectamente los elementos del negocio adquirido se valorarán por el importe que les correspondería, una vez realizada la operación en las cuentas anuales consolidadas del grupo o subgrupo. En el caso de fusiones entre otras empresas del grupo entre las que no exista relación de dependencia, los elementos patrimoniales del negocio se valorarán según los valores contables existentes antes de la operación en sus cuentas anuales individuales registrándose la diferencia que pudiera ponerse de manifiesto en una partida de reservas.
En las escisiones de sociedades entre sociedades del grupo se aplican criterios equivalentes a los de las operaciones de fusión.

Diferencia negativa surgida en combinaciones de negocios

En el supuesto de que el valor de activos identificables adquiridos netos exceda el coste de la combinación de negocios, este exceso se contabilizará como un ingreso en la cuenta de pérdidas y ganancias, con algunas excepciones.

Fondo de comercio surgido en combinaciones de negocios

Valoración inicial: diferencia entre el coste de la combinación de negocios y el valor razonable de activos identificables adquiridos menos pasivos asumidos (incluso contingentes).
El fondo de comercio se amortiza en función de su vida útil. Se presumirá que la vida útil es de 10 años salvo prueba en contrario debiendo amortizarse de forma lineal

Adquisiciones inversas

La regulación de estas operaciones se remite a las NOFCA (Normas para la Formulación de Cuentas Anuales Consolidadas).

Transacciones separadas

La adquirente identificará las transacciones separadas que no formen parte de la combinación de negocios que se contabilizará de acuerdo con la correspondiente norma de registro y valoración.

Table 9
JOINT VENTURES

  

Concepto

Un negocio conjunto es una actividad económica controlada conjuntamente por dos o más personas físicas o jurídicas.
Distingue entre explotaciones controladas de forma conjunta, activos controlados de forma conjunta y empresas controladas de forma conjunta.

Concepto de control conjunto

Es un acuerdo estatutario o contractual en virtud del cual dos o más personas acuerdan compartir el poder de dirigir las políticas financieras y de explotación sobre una actividad económica para obtener beneficios económicos.

Explotaciones y activos controlados de forma conjunta

El partícipe debe reconocer la parte proporcional de los activos y pasivos controlados conjuntamente. Asimismo, se reconocerá en su cuenta de pérdidas y ganancias la parte que le corresponde de los ingresos generados y los gastos incurridos por el negocio conjunto, así como los gastos incurridos en relación con su participación en el negocio conjunto.

Empresas controladas de forma conjunta

El partícipe registra su participación de acuerdo con lo previsto para las inversiones en empresas del grupo, multigrupo y asociadas.

Table 10
SALES OF GOODS AND RENDERING OF SERVICES

  

Valoración

Los ingresos se valoran por el valor razonable de la contrapartida recibida o por recibir, deducido cualquier descuento o rebaja en el precio.

Intereses incorporados al nominal de los créditos

Los intereses incorporados al nominal de los créditos se deducen del precio acordado, salvo en los créditos comerciales con vencimiento no superior a un año en determinados supuestos.

Permuta de bienes y servicios

No se reconoce ningún ingreso en caso de permuta de bienes o servicios, por operaciones de tráfico, de naturaleza y valor similar.

Table 11
GRANTS, DONATIONS AND LEGACIES RECEIVED

  

Presentación en los estados financieros

Las subvenciones con carácter reintegrable se registran como pasivos.
Las subvenciones no reintegrables se contabilizarán inicialmente, con carácter general, como ingresos directamente imputados al patrimonio neto y se reconocerán en la cuenta de pérdidas y ganancias de forma correlacionada con los gastos derivados de la misma.

Imputación a resultados de la subvenciones para adquisiciones de activos

Inmovilizado material, intangible e inversiones inmobiliarias. En proporción a la dotación a la amortización o, en su caso, cuando se produzca su enajenación, deterioro o baja en balance.
Existencias y activos financieros. Ejercicio en que se produzca la venta, corrección de valor o baja contable.

Valoración de subvenciones no monetarias

Se valorarán por el valor razonable del bien recibido en el momento de su reconocimiento.

Subvenciones otorgadas por socios o propietarios

Deberán registrarse directamente en los fondos propios, independientemente del tipo de subvención de que se trate, salvo aquellas recibidas por empresas pertenecientes al sector público recibidas de la entidad pública dominante para la realización de actividades de interés público o general, que se imputarán a resultados atendiendo a su finalidad.

Table 12
SHARE-BASED PAYMENT

  

Concepto

Aquellas transacciones que, a cambio de recibir bienes o servicios, incluidos los servicios prestados por los empleados, se liquidan con instrumentos de patrimonio propio o con un importe basado en el valor de instrumentos de patrimonio propio.

Reconocimiento de transacciones que se van a liquidar con instrumentos de patrimonio

Los bienes o servicios recibidos se reconocen como un activo o un gasto según su naturaleza, cuando se obtienen, reconociendo, asimismo, un incremento en el patrimonio neto.
Cuando sea necesario completar un periodo de servicios, el reconocimiento se efectuará a medida que los servicios sean prestados a lo largo del citado periodo.

Reconocimiento de transacciones con opción de liquidarse en efectivo o con instrumentos de patrimonio

Se reconoce un pasivo en la medida en que la empresa haya incurrido en una obligación presente de liquidar en efectivo o con otros activos y, en caso contrario, se reconoce una partida de patrimonio neto. Si la opción es del proveedor se reconoce como un instrumento financiero compuesto.

Liquidación mediante instrumentos de patrimonio

Se valorarán las transacciones por el valor razonable de los bienes o servicios recibidos siendo la contra partida el patrimonio neto. Si este no se pudiese determinar con fiabilidad se valorarán por el valor razonable de los instrumentos de patrimonio neto cedidos.
En caso de transacciones con los empleados se valorarán por el valor razonable de los instrumentos de patrimonio cedidos a la fecha del acuerdo de concesión.

Liquidación en efectivo

Se valoran por el valor razonable del pasivo, referido a la fecha en que se cumplan los requisitos para su reconocimiento, siendo la contra partida de un pasivo. Las variaciones en su valoración hasta su liquidación se imputarán a la cuenta de pérdidas y ganancias.

Table 13
DISCONTINUED OPERATIONS

  

Concepto

Es un componente que se ha enajenado o clasificado como mantenido para la venta y representa una línea del negocio o área geográfica de la explotación que sea significativa y separable, forma parte de un plan para enajenar una línea del negocio o área geográfica significativa y separable o es una dependiente adquirida para su reventa.

Table 14
INTRAGROUP TRANSACTIONS

  

Regla general

Los elementos objeto de una transacción entre empresas del grupo se contabilizarán por su valor razonable.

Reglas especiales

Sólo son de aplicación cuando los elementos objeto de la transacción sean un negocio y la contraprestación no sea monetaria.


  1. Aportaciones no dinerarias: Valoración en cuentas anuales consolidadas (o individuales, si no se formulasen cuentas consolidadas en España).

  2. Operaciones de fusión y escisión: Valoración:

    • Si hay relación de dependencia entre las empresas del grupo se utiliza el valor que correspondería en cuentas anuales consolidadas.

    • Si no hay esa relación de dependencia, también se utiliza el valor en cuentas anuales consolidadas, (o individuales, si no se formulasen cuentas consolidadas en España).

    La fecha de efectos contables será la del inicio del ejercicio en que se aprueba la fusión siempre que sea posterior al momento en que las sociedades se incorporan al grupo.

  3. Reducción de capital, reparto de dividendos y disolución de sociedades.

It should be noted that the Spanish National Chart of Accounts came into force on January 1, 2008, and was applied for the first time in the first reporting period that commenced on or after that date 2.

In addition, as has been indicated in section one entitled “Legal Framework”, Royal Decree 602/2016 for the amendment, among other texts, of the Spanish National Chart of Accounts, approved by Royal Decree 1514/2007 of November 16, 2007, was published on December 17, 2016. Strictly from an accounting perspective, mention should be made—in view of their particular importance—of the main amendments envisaged in this draft, which are the following:

  • Companies which are able to issue abridged financial statements and notes to the financial statements, and those entitled to apply the PGC for SMEs, are exempted from the obligation to issue a Statement of Changes in Equity.
  • The treatment applicable to intangible assets is amended to bring it into line with Accounting Audit Law 22/2015 (LAC). The wording of recognition and measurement base 5 on “Intangible assets” is now as follows:
      • “Intangible fixed assets are assets with a finite useful life which are therefore required to be amortized systematically over the period in which the economic benefits inherent in the asset can reasonably be expected to generate a return for the company.
      • When the useful life of these assets cannot be reliably estimated, they are to be amortized over ten years, without prejudice to the periods established in specific rules on intangible fixed assets.
      • These assets are nevertheless to be assessed for indications of impairment at least once a year, with any impairment loss incurred being verified.”

According to the above wording, intangible assets of indefinite useful life no longer exist. They are all considered to have a finite useful life. It is only when this useful life cannot be reliably estimated that they are to be amortized over 10 years.

  • The accounting treatment of goodwill is also amended, with specific provisions not applicable generally to intangibles which are intended to bring the treatment of goodwill into line with the wording of the LAC. The wording of recognition and measurement base 6 on “Specific rules on intangible fixed assets” is now as follows:
    • “Goodwill is to be amortized over its useful life. Useful life is to be determined separately for each cash-generating unit to which goodwill has been allocated.
    • The useful life of goodwill shall be presumed, in the absence of evidence to the contrary, to be 10 years, with recovery being on a straight-line basis.
    • In addition, the cash-generating units to which goodwill has been allocated are to be checked for indications of impairment at least once a year, and in the event of any indications being found, testing for impairment losses is to be undertaken in accordance with the provisions of section 2.2 of the rule for tangible fixed assets.
    • Impairment losses recognized against goodwill are not reversible in subsequent periods”.
  • In relation to the amortization of both (i) intangibles whose useful life cannot be reliably estimated and (ii) goodwill pursuant to the two preceding points, the sole transitional provision of the LAC stipulates that they are to be amortized prospectively. It nevertheless leaves the company the option of charging amortization retrospectively against reserves insofar as relates to the portion of the asset’s useful life elapsing between its registration date and the entry into force of the reform.
  • New parameters are established for the preparation of Abridged Financial Statements and for the application of the PGC for SMEs.
  • Finally, amendments to the Rules on the Preparation of Consolidated Financial Statements are made, essentially in relation to the treatment of consolidation goodwill.

5. Distributable profit

In the context of the accounting legislation reform process described above, the rules for distributing company profit contained in Article 273 of the Revised Corporate Enterprises Law have been amended, and, in general terms, currently provide that:

  • The profit taken directly to equity may not be distributed either directly or indirectly.
  • Any distribution of profit is prohibited unless the amount of unrestricted reserves is at least equal to the amount of research and development expenditure that appears on the asset side of the balance sheet.

It should be noted that with the entry into force of the new LAC, the obligation to set up a restricted reserve equal to the goodwill recognized under assets has been eliminated.

6. Consolidation

As mentioned above, within the process of adapting Spanish
accounting legislation to EU law, Royal Decree 1159/2010, of September 17, approved the Standards for the Preparation of Consolidated Financial Statements.

The most important aspects ruled by that Royal Decree in this sphere are as follows:

  • It widens the definition of “control” meaning the power to steer the financial and operating policies of an entity with the aim to obtain profits from its activities.
  • Companies are exempted from the obligation to consolidate where the parent only has investments in subsidiaries that do not have a significant interest, individually or as a whole, to present fairly the equity, financial position and results of the group companies.
  • It sets out the rules for recognizing eliminations of investments and net equity in cases of (i) inclusion of companies that constitute a business, (ii) consolidation of a company that does not constitute a business, and (iii) consolidation among companies that were already part of the group.
  • It lays down rules for the conversion of financial statements in foreign currency.
  • It contains more detailed rules on income tax expense.
  • It amended the new Spanish National Chart of Accounts and the Spanish National Chart of Accounts for Small and Medium- Sized Enterprises, in relation to the recognition of business combinations, financial instruments and income taxes.

This Royal Decree applies to the consolidated financial statements, for financial years beginning on or after January 1, 2010, of the following:

  • Groups of companies, including subgroups, whose parent company is Spanish 3.
  • Cases in which any parent enterprise—whether an individual • or a legal entity— voluntarily prepares and publishes consolidated financial statements
  • When consolidated financial statements are prepared and • published by any individual or legal entity, to the extent that the substantive rules applicable to such entity require it to do so, or it does so voluntarily.

7. Requirements concerning disclosures in the notes to the financial statements

The Spanish Commercial Code states that the notes to the financial statements must complete, expand upon and discuss the contents
of the other documents that make up the financial statements.

The minimum disclosure requirements are specified in the very wording of the Revised Spanish Corporate Enterprises Law, in the Spanish National Chart of Accounts, and in the Standards for the Preparation of Consolidated Financial Statements, all of which indicate that the notes to the financial statements form an integral part of the financial statements.

In response to the relative importance that the principle of fair presentation has in accounting legislation, there is a large number
of disclosures to be included in the notes to the financial statements. Among other disclosures, the notes to the separate financial statements must at least contain, in addition to the disclosures specifically provided for in the Commercial Code, the Corporate Enterprises Law and the related implementing legislation, the following information:

  • The measurement bases applied to the various items in the financial statements and the methods used for calculating valuation adjustments.
  • The name, registered office and legal form of the companies of which the company is a general partner or in which it holds, directly or indirectly, an ownership interest of not less 20%, or in which, even if this percentage is lower, it exercises significant influence.
  • The percentage of ownership of the share capital and the percentage of voting power held must be indicated, together with the amount of the equity in the investee’s last business year.
  • Where there are several classes of shares, the number and par value of each class.
  • The existence of “rights” bonds, convertible debentures and similar securities or rights, indicating the number of each and the scope of the rights that they confer.
  • The amount of the company’s borrowings with a residual life of more than five years, and the amount of all the liabilities for which there is a security interest, indicating their form and nature. These disclosures must be shown separately for each liability item.
  • The overall amount of the guarantee commitments to third parties, without prejudice to their recognition on the liability side of the balance sheet when it is probable that they will give rise to the effective settlement of an obligation.
  • The pension obligations and those relating to group companies must be disclosed with due clarity and separation.
  • The nature and business substance of the company’s agreements that are not included in the balance sheet and the financial impact thereof, provided that this information is relevant and necessary for determining the company’s financial position.
  • The company’s significant transactions with related third parties, indicating the nature of the relatedness, the amount • of the transactions and any other information concerning the transactions that might be required in order to determine the company’s financial position.
  • The distribution of the company’s revenue by line of business and geographical market, to the extent that, from the standpoint of the organization of the sale of goods and of the rendering of services or other revenue of the company, these categories and markets differ significantly from each other. These disclosures may be omitted by companies that can prepare abridged income statements.
  • The average number of employees in the reporting period, broken down by category, and the period staff costs, distinguishing between wages and salaries and employee benefits, with separate disclosure of those covering pensions, when such amounts are not broken down in the income statement.
  • The amount of the salaries, attendance fees and remuneration of all kinds earned during the year in all connections by senior executives and the members of the managing body, and the amount of the pension or life insurance premium payment obligations to the former and current members of the managing body and senior executives. Where the members of the managing body are legal persons, the aforementioned requirements refer to the natural persons representing them. These disclosures can be made on an overall basis by type of remuneration.
  • The amount of the advances and loans to senior executives and members of the governing bodies, indicating the applicable interest rate, their essential features and such amounts as might have been repaid, together with the guarantee obligations assumed on their behalf. Where the members of the managing body are legal persons, the aforementioned requirements refer to the natural persons representing them.
  • Companies which have issued securities that are publicly traded on a regulated market of any EU Member State and which, pursuant to current legislation, only publish individual financial statements, are obliged to disclose in the notes to the financial statements the main changes in equity and profit or loss that would have arisen had EU-IFRSs been applied, indicating the measurement bases used.
  • A breakdown of the fees for financial audit and other services provided by the auditors, together with those paid to persons or entities related to the auditors, in accordance with Spanish Audit Law 19/1988, of July 12, 1988.
  • The group, if any, to which the company belongs and the Mercantile Registry at which the consolidated financial statements have been filed or, where applicable, the circumstances relieving the group from the obligation of presenting consolidated financial statements.
  • When the company has the largest volume of assets from among the group of companies domiciled in Spain forming part of the same decision-making unit, because they are controlled in any way by one or several natural or legal persons not obliged to consolidate acting jointly, or because they are under single management due to agreements or clauses in the bylaws, a description of the companies must be given, indicating the reasons why they form part of the same decision-making unit, and the aggregate amount of the assets, liabilities, equity, revenue and profit or loss of those companies must be disclosed.
    The company with the largest volume of assets is considered to be that which at the date of its inclusion in the decision-making unit has the largest figure under the total assets heading in the balance sheet model.
  • According to the Resolution of the Accounting and Audit Institute, of December 29, 2010, the notes to the financial statements must contain information on deferred payments to suppliers in commercial transactions.

8. Auditing requirements

Accounting Audit Law 22/2015 of July 20, 2015 is the result of a sequence of legislative reforms which include most notably the following:

• Law 44/2002 of November 22, 2002, on Measures to Reform the Financial System, which introduced some substantial changes affecting a variety of aspects.

• Law 12/2010 of June 30, 2010 amending the Accounting Audit Law 19/1988, of July 12, 1988, the Securities Market Law 24/1988 of July 28, 1988, and the Revised Corporations Law approved by Legislative Royal Decree 1564/1989 of December 22, 1989, in order to adapt them to Community legislation.

The new law is intended to boost user confidence in economic and financial information by improving the quality of accounting audits within the European Union. Specifically, the new LAC sets out to:

• On the one hand, make transparency a fundamental attribute of both auditors and their work. Attention is drawn in this respect to the new requirements regarding the content of audit reports, which are stricter in the case of audit reports issued in respect of public-interest entities. The professionals by which entities of this kind are audited are placed under the obligation, on the one hand, to prepare and issue an additional report addressed to the Audit Committee which records and reflects the findings of the audit process; and on the other hand, to include in the annual transparency report certain financial information specified in the Directive. The aim of mechanisms of this kind is also to improve the channels of communication between auditors and the supervisors of public-interest entities and enhance the auditor’s independence and objectivity, by introducing into the Spanish legislation stipulations and requirements which are more restrictive than those contained in Directive 2006/43/EC.

  • Make the audit market more dynamic, open it up and integrate it at Community level through new measures such as the so-called “European passport”. These changes are intended to accompany the measures included in Regulation (EU) no. 537/2014 of April 16, 2014, relating to incentives to encourage entities to undergo joint audits, the participation of smaller firms in obligatory tender processes of a public and periodic nature—which are regulated by simplifying the rules on the selection of the auditor—, and mandatory external rotation.
  • There are measures included to reduce the transaction costs of doing business within the European Union for small and medium-sized firms:
    • —  Application proportionate to the scale and complexity of the activity of the auditor or of the entity being audited.
    • —  The Member States are given the authority to simplify certain requirements in the case of small audit firms.
    • —  Specific provisions for small and medium-sized audit firms.
  • The objective is to achieve a higher degree of harmonization in surveillance and disciplinary matters, and in both European Union and international cooperation mechanisms. The competences of the public supervisory authority are reinforced with this aim in mind, with particular emphasis being placed on the authority to establish minimum disciplinary rules, while at the same time establishing risk assessment as the guiding principle in the quality control reviews to be carried out by such authority. In relation to audits of public-interest entities, there are two main changes:— Inclusion of mechanisms aimed at detailed monitoring of the evolution of the market.

    — Establishing of an anonymous sector dialog between auditors and the European Systemic Risk Board, as part of the process for the surveillance of risks affecting financial institutions classed as being of systemic importance.

The main changes introduced by the new LAC, with respect to the previous legislation, are the following:

  • Content of the audit report:
    The following changes affecting the content of the audit report are to be noted:

— The report must be free of material misstatements: It must be explained in it that the audit was planned and performed to obtain reasonable assurance that the financial statements are free of material misstatements, including any deriving from acts of fraud.

— Provision of non-audit services: It should include a declaration affirming that no services other than those consisting of the audit of the financial statements have been provided and that no situations or circumstances have arisen which have affected the necessary independence of the auditor or audit firm.

— Directors’ report: Apart from expressing an opinion concerning the consistency or otherwise of the directors’ report with the financial statements for the same year, the report is to include an opinion as to whether the content and presentation of the directors’ report meets the requirements of the applicable legislation, with any material misstatements which may have been detected in this respect being indicated.

— Just cause for failure to issue a report or relinquishment: It is stipulated that just cause shall be considered to exist whenever any of the following circumstances is present:

– The existence of threats which compromise the independence or objectivity of the auditor or audit firm.

– When it is absolutely impossible for the auditor or audit firm to perform the work for which they have been engaged owing to circumstances for which they cannot be considered responsible.

– Clear wording, without certain references: The audit report is to be clearly worded and with no ambiguity.

  • European audit firm:
    The possibility is envisaged of an audit firm authorized in another Member state pursuing its business in Spain, provided that the person signing the report on its behalf is authorized to practice in this country.
  • Obligation to abstain:
    The obligation to abstain from participation in any decision- making process in the entity is imposed upon any person— not just the auditor—who could have an impact on the final appraisal or outcome of the audit.
  • Measures designed to guarantee independence:
    Measures are introduced which aim to avoid conflicts of interest or in commercial relations, or any other kind of conflict— whether direct or indirect, actual or potential—which could compromise the independence of the audit function.
  • A requirement that there be no significant, directly held interest is introduced:
    The Law requires there to be no significant directly-held interest. It also establishes a ban on the performance of certain transactions with financial instruments issued by the audited entity, applicable to the auditor or audit firm, their personnel, or any persons providing services in the performance of the audit activity, plus certain relatives of the above persons.
  • I nclusion of systems to safeguard the audit function:
    The Law establishes the need to implement adequate systems to safeguard against any threats which could derive from conflicts of interest or from any commercial, employment, family or other kind of relationship.
  • The situations by which the auditor’s duty of independence may be affected are defined:
    According to the Directive being transposed, the following can affect the auditor’s duty of independence:
    —  The existence of relations, situations or provisions of services between the entity being audited and the auditor or audit firm.
    —  Between the entity being audited and the network of which the auditor or audit firm forms part  4.
  • Audit principles and policies are established:
    These operational principles and policies are aimed—as is to be expected—at guarding against any kind of threat to independence and guaranteeing the quality, integrity and critical and rigorous nature of the audit process.
  • Two forms of monitoring of the audit activity are envisaged:
    The new rules provide more detailed provisions on the scope and purpose of the monitoring of the accounting audit activity, with two forms of monitoring being envisaged:— Inspections (formerly known as external quality control) to be carried out on a regular or periodic basis which may result in the issue of recommendations or requirements, with the analysis of risk as the guiding principle.—Investigations(which include what is currently referred to as technical control), the purpose of which is to detect and correct any deficiency in a specific audit engagement or activity performed by the auditor.
  • Cooperation between International Organizations:
    The duty of collaboration with the Member States of the European Union is extended to include European supervisory authorities. These mechanisms are reinforced by the possibility of data being transmitted to the European Central Bank, the European System of Central Banks and the European Systemic Risk Board, and by the possibility of creating colleges of supervisory authorities within which data can be exchanged, particularly in relation to the activities of auditors who operate within the framework of a network.

Finally, in relation to the company to be audited, Additional Provision One of the LAC stipulates that all companies and entities, irrespective of legal form, which meet any of the following requirements are to have their financial statements audited:

a) Those issuing securities admitted to trading on official secondary securities markets or multilateral trading systems.

b) Those issuing debentures for sale to the public.

c) Those engaging habitually in financial intermediation activities and, in all cases, credit institutions, investment services companies, the governing companies of official secondary markets, the governing companies of multilateral trading systems, the Systems Company, central counterparties, the Stock Exchange Company, investment guarantee fund management companies, and other financial institutions, including collective investment institutions, securitization funds and their managers, entered in the corresponding Registers of the Bank of Spain and Spanish National Securities Market Commission.

d) Entities whose corporate purpose includes any ofthe activities regulated by the revised Private Insurance (Regulation and Supervision) Law, approved by Legislative Royal Decree 6/2004 of October 29, 2004, within the limits established in the relevant implementing regulations, and pension funds and their management companies.

e) Entities that receive government grants or aid or perform work for or render services or make supplies to the State and other public bodies, within the limits established in the implementing regulations to be laid down by the government in a Royal Decree.

f) All other entities that exceed certain limits defined by the government in a royal decree. These limits shall refer, as a minimum, to turnover, total assets according to the balance sheet and the average number of employees for the year, and shall be applicable—all of them or each one individually—to the extent possible given the legal structure of each company or entity.

The limits referred to in the preceding paragraph coincide with those established in relation to the preparation of abridged balance sheets, according to the revised Capital Companies Law.

The rule established in this respect is that for two consecutive years leading up to the balance sheet date, at least two of the following requirements are to be met:

  • Total assets of 2,850,000 euros or less.
  • Annual turnover of 5,700,000 euros or less.
  • Average number of employees during the year of 50 or fewer.

Companies lose this entitlement if they cease to meet two of the requirements referred to above for two consecutive years.

9. Financial statement publication requirements

The Revised Spanish Corporate Enterprises Law provides that companies must file their financial statements at the Mercantile Registry corresponding to the place in which they have their registered office, within one month from their approval, together with a certificate of the resolutions adopted by the shareholders at the Annual General Meeting at which they were approved and the proposed distribution of profit, copies of the financial statements, directors’ report and auditors’ report (if the company is obliged to have its financial statements audited or if its financial statements were audited at the request of the minority shareholders).

The Mercantile Registry is public and the corporate documentation filed thereat is publicized through certificates of the entries made by the registrars or through an uncertified extract, or through the issuance of copies of the entries made and of the documents filed at the Registry, all in accordance with the Spanish Commercial Code.

Also, publicly-traded companies must (pursuant to Securities Market Law 24/1988) present copies of their financial statements and of the related auditors’ report to the Spanish National Securities Market Commission.

The official registers and other documentation in the possession of the Mercantile Registry and the Spanish National Securities Market Commission are available to the public for their perusal.

10. Appendix I

Appendix I
MODEL BALANCE SHEETS (DECEMBER 31, 20XX AND 20YY)

Nº CUENTASACTIVONOTAS200X
A) ACTIVO NO CORRIENTE

201, (2801), (2901)
202, (2802), (2902)
203, (2803), (2903)
204


206, (2806), (2906)
200, (2800), (2900); NECA 6.ª 4
205, 209, (2805), (2905)
I.  Inmovilizado intangible
  1. Desarrollo

  2. Concesiones

  3. Patentes, licencias, marcas y similares

  4. Fondo de comercio

  5. Aplicaciones informáticas

  6. Investigación

  7. Otro inmovilizado intangible

210, 211, (2811), (2910), (2911) 
212, 213, 214, 215, 216, 217, 218 219, (2812), (2813), (2814),
(2815), (2816), (2817), (2818),
(2819), (2912), (2913), (2914),
(2915), (2916), (2917), (2918),
(2919) 
23

II.  Inmovilizado material
  1. Terrenos y construcciones

  2. Instalaciones técnicas, y otro inmovilizado materia

  3. Inmovilizado en curso y anticipos

220, (2920) 
221, (282) (2921)

III.  Inversiones inmovilizadas
  1. Terrenos

  2. Costrucciones

2403, 2404, (2493), (2494), (293 2423, 2424, (2953), (2954) 2413, 2414, (2943), (2944)
NECA 6.ª 6

IV.  Inversiones en empresas del grupo y asociadas a largo plazo
  1. Insrtrumentos de patrimonio

  2. Créditos a empresas

  3. Valores representativos de deuda

  4. Derivados

  5. Otros activos financieros

  6. . Otras inversiones

2405, (2495), 250, (259)
2425, 252, 253, 254, (2955), (298)
2415, 251, (2945) (297)
255
258, 26
257; NECA 6.ª 6

V.  Inversiones financieras a largo plazo
  1. Instrumentos de patrimonio

  2. Créditos a terceros

  3. Valores representativos de deuda

  4. Derivados

  5. Otros activos financieros

  6. Otras inversiones

474

VI. Activos por impuesto diferido

NECA 6.ª 8

VII. Deudores comerciales no corrientes
B) ACTIVO CORRIENTE

580, 581, 582, 583, 584, (599)

I. Activos no corrientes mantenidos para la venta

30, (390)
31, 32, (391), (392) 33, 34, (393), (394) NECA 6.ª 7
NECA 6.ª 7
35, (395)
NECA 6.ª 7
NECA 6.ª 7
36, (396)
407

II. Existencias
  1.   Comerciales

  2. Materias primas y otros aprovisionamientos

  3. Productos en curso

    • De ciclo largo de producción

    • De ciclo corto de producción

  4. Productos terminados

    • De ciclo largo de producción

    • De ciclo corto de producción

  5. Subproductos, residuos y materiales recuperados

  6. Anticipos a proveedores

430, 431, 432, 435, 436, (437), (490), (4935) NECA 6.ª 8
NECA 6.ª 8
433, 434, (4933), (4934) 44, 5531, 5533
460, 544
4709
4700, 4708, 471, 472 5580

III. Deudores comerciales y otras cuentas a cobrar
  1. Clientes por ventas y prestaciones de servicios

    • Clientes por ventas y prestaciones de servicios a largo plazo

    • Clientes por ventas y prestaciones de servicios a corto plazo

  2. Clientes, empresas del grupo y asociadas

  3. Deudores varios

  4. Personal

  5. Activos por impuesto corriente

  6. Otros créditos con las Administraciones Públicas.

  7. Accionistas (socios) por desembolsos exigidos

5303, 5304, (5393), (5394),(593) 
5323, 5324, 5343, 5344, (5953),(5954)
5313, 5314, 5333, 5334, (5943),(5944)
5353, 5354, 5523, 5524
NECA 6.ª 6

IV. Inversiones en empresas del grupo y asociadas a corto plazo
  1. Instrumentos de patrimonio

  2. Créditos a empresas

  3. Valores representativos de deuda

  4. Derivados

  5. Otros activos financieros

  6. Otras inversiones

5305, 540, (5395), (549)
5325, 5345, 542, 543, 547, 
(5955), (598)
5315, 5335, 541, 546, (5945),(597)
5590, 5593
5355, 545, 548, 551, 5525, 565, 566
NECA 6.ª 6


V. Inversiones financieras a corto plazo
  1. Instrumentos de patrimonio

  2. Créditos de empresas

  3. Valores representativos de deuda

  4. Derivados

  5. Otros activos financieros

  6. Otras inversiones

480, 567

VI. Periodificación a corto plazo

570, 571, 572, 573, 574, 575 576

VII. Efectivo y otros activos líquidos equivalentes
  1. Tesorería

  2. Otros activos líquidos equivalentes

TOTAL ACTIVO (A+B)
A) PATRIMONIO NETO
A-1) FONDOS PROPIOS

100, 101, 102
(1030), (1040)

I. Capital
  1. Capital escriturado

  2. (Capital no exigido)

110

II. Prima de emisión

112, 1141
113, 1140, 1142, 1143, 1144, 115, 119


III. Reservas
  1. Legal y estatutarias

  2. Otras reservas

(108), (109)

IV. (Acciones y participaciones en patrimonio propias)

120
(121)

V. Resultados de ejercicios anteriores
  1. Remanente

  2. (Resultados negativos de ejercicios anteriores)

118

VI. Otras aportaciones de socios

129

VII. Resultado del ejercicio

(557)

VIII. (Dividendo a cuenta)

111

IX. Otros instrumentos de patrimonio neto
A-2) AJUSTES POR CAMBIOS DE VALOR

133

I. Activos financieros disponibles para la venta

1340, 1341

II. Operaciones de cobertura

136; (NECA 6.ª 13)

III. Activos no corrientes y pasivos vinculados, mantenidos para la venta

136; (NECA 6.ª 13)

IV. Diferencia de conversión

137

V. Otros

130, 131, 132

A-3) SUBVENCIONES, DONACIONES Y LEGADOS RECIBIDOS
B) PASIVO NO CORRIENTE

140 
145 
146
141, 142, 143, 147

I. Provisiones a largo plazo
  1. Obligaciones por prestaciones a largo plazo al personal

  2. Actuaciones medioambientales

  3. Provisiones por reestructuración

  4. Otras provisiones

177, 178, 179
1605, 170
1625, 174
176
1615, 1635, 171, 172, 173, 175, 180,, 185, 189

II. Deudas a largo plazo
  1. Obligaciones y otros valores negociables

  2. Deudas con entidades de crédito

  3. Acreedores por arrendamiento financiero

  4. Derivados

  5. Otros pasivos financieros

1603, 1604, 1613, 1614, 1623 1624, 1633, 1634

III. Deudas con empresas del grupo y asociadas a largo plazo

479

IV. Pasivos por Impuesto diferido

181

V. Periodificaciones a largo plazo

NECA 6.ª 16

VI. Acreedores comerciales no corrientes

15; (NECA 6.ª 17)

VII. Deuda con características especiales a largo plazo
B) PASIVO CORRIENTE

585, 586, 587, 588, 589

I. Pasivos vinculados con activos no corrientes mantenidos para la venta

499, 529

II. Provisiones a corto plazo

500, 501, 505, 506
5105, 520, 527
5125, 524
5595, 5598
(1034) (1044) (190), (192), 194, 509, 5115, 5135, 5145, 521, 522, 523, 525, 526, 528, 551, 5525, 5530, 5532, 555, 5565, 5566, 560, 561, 569

III. Deudas a corto plazo
  1. Obligaciones y otros valores negociables

  2. Deudas con entidades de crédito

  3. Acreedores por arrendamiento financiero

  4. Derivados

  5. Otros pasivos financieros

5103, 5104, 5113, 5114, 5123, 
6124, 5133, 5134, 5143, 5144, 
5523, 5524, 5563, 5564

IV. Deudas con empresas del grupo y asociadas a corto plazo

400, 401, 405, (406) NECA 6.ª 16
NECA 6.ª 16
403, 404
41
465, 466
4752
4750, 4751, 4758, 476, 477 438

V. Acreedores comerciales y otras cuentas a pagar
  1. Proveedores

    • Proveedores a largo plazo

    • Proveedores a corto plazo

  2. Proveedores, empresas del grupo y asociadas

  3. Acreedores varios

  4. Personal (remuneraciones pendientes de pago)

  5. Pasivos por impuesto corriente

  6. Otras deudas con las Administraciones Públicas

  7. Anticipos de clientes

485, 568

VI. Periodificaciones a corto plazo

502, 507; NECA 6.ª 17

VII. Deuda con características especiales a corto plazo
TOTAL PATRIMONIO NIETO Y PASIVO (A + B +C)

11. Appendix II

 

Appendix II
MODEL INCOME STATEMENTS FOR THE YEAR ENDED __ 200X)

Nº CUENTASACTIVONOTAS200X
A) ACTIVO NO CORRIENTE

700, 701, 702, 703, 704, (706),(708), (709)
705

1. Importe neto de la cifra de negocios
  • Ventas

  • Prestaciones de servicios


(6930), 71*, 7930

2. Variación de existencias de productos terminados y en curso de fabricación
73

3. Trabajos realizados por la empresa para su activo

(600), 6060, 6080, 6090, 610*
(601), (602), 6061, 6062, 6081, 6082, 6091, 6092, 611*, 612* (607)(6931), (6932), (6933), 7931, 7932, 7933

4. Aprovisionamientos
  • Consumo de mercaderías

  • Consumo de materias primas y otras materias consumibles

  • Trabajos realizados por otras empresas

  • Deterioro de mercaderías, materias primas y otros aprovisionamientos

75
740, 747

5. Otros ingresos de explotación
  • Ingresos accesorios y otros de gestión corriente

  • Subvenciones de explotación incorporadas al resultado del ejercicio

(640), (641), (6450)
(642), (643), (649)
(644), (6457), 7950, 7957

6. Gastos de personal
  • Sueldos, salarios y asimilados

  • Cargas sociales

  • Provisiones

(62)
(631), (634), 636, 639
(650), (694), (695), 794, 7954
(651), (659)

7. Otros gastos de explotación 
  • Servicios exteriores

  • Tributos

  • Pérdidas, deterioro y variación de provisiones por operaciones comerciales

  • Otros gastos de gestión corriente

(68)

8. Amortización del inmovilizado

746

9. Imputación de subvenciones de inmovilizado no financiero y otras

7951, 7952, 7955, 7956

10  Excesos de provisiones

(690), (691), (692), 790, 791, 792 (670), (671), (672), 770, 771, 772

11. Deterioro y resultado por enajenaciones del inmovilizado
  • Deterioros y pérdidas

  • Resultados por enajenaciones y otras

774; (NECA7.ª 6)

12. Diferencia negativa de combinaciones de negocio

(678),778;(NECA 7.ª 9)

13. Otros resultados
A1) resultado de explotación
(1+2+3+4+5+6+7+8+9+10+11+12+13)

7600,7601
7602, 7603
7610, 7611, 76200, 76201, 76210, 76211
7612, 7613, 76202, 76203, 76212, 76213, 767, 769
746; (NECA 7.ª 4)

14. Ingresos financieros
  • De participaciones en instrumentos de patrimonio

    1. En empresas del grupo y asociadas

    2. En terceros

  • De valores negociables y otros instrumentos financieros

    1. De empresas del grupo y asociadas

    2. De terceros

  • Imputación de subvenciones, donaciones y legados de carácter financiero

(6610), (6611), (6615), (6620),(6621), (6640), (6641), (6650),(6651) (6654), (6655)
(6612), (6613), (6617), (6618),(6622), (6623), (6624), (6642), (6643), (6652),(6653), (6656), (6657), (669)
(660)

15. Gastos financieros
  • Por deudas con empresas del grupo y asociadass

  • Por deudas con terceross

  • Por actualización de provisioness

(6630), (6631), (6633), 7630, 7631, 7633
(6632), 7632

16. Variación de valor razonable e instrumentos financieros
  • Cartera de negociación y otross

  • Imputación al resultado del ejercicio por activos financieros disponibles para la ventas

(668), 768

17. Diferencias de cambio

(696), (697), (698), (699), 796, 797, 798, 799
(666), (667), (673), (675),766, 773, 775

18. Deterioro y resultado por enajenaciones de instrumentos financieros
  • Deterioros y pérdidas

  • Resultados por enajenaciones y otras

19. Otros ingresos y gastos de carácter financiero
  • Incorporación al activo de gastos financieros

  • Ingresos financieros derivados de convenios de acreedores

  • Resto de ingresos y gastos

A2) Resultado financiero (14+15+16+17+18+19)
A3) resultado de impuestos a.1+a.2

(6300)*, 6301*, (633), 638

20. Impuestos sobre beneficios
A.4) RESULTADO DEL EJERCICIO PROCEDENTE DE OPERACIONES CONTINUADAS (A.3+20)
B) OPERACIONES INTERRUMPIDAS
21. Resultado del ejercicio procedente de operaciones interrumpidas neto de impuestos
A.5) RESULTADO DEL EJERCICIO (A.4+21)

12. Appendix II

 

Appendix III
MODEL STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED __ 200X

1. Statement of recognized income and expense for the year ended __ 200X

 

Nº CUENTASNOTAS
A) RESULTADO DE LA CUENTA DE PÉRDIDAS Y GANANCIAS

(800), (89), 900, 991, 992
(810), 910
94
(85), 95
(860), 900; (NECA 8.ª 1.2)
(820), 920; (NECA 8.ª 1.3)
(8300)*, 8301*, (833), 834, 835, 838

Ingresos y gastos imputados directamente al patrimonio neto
I. Por valoración instrumentos financieros
    1. Activos financieros disponibles para la venta
    2. Otros ingresos/ gastos
II. Por coberturas de flujos de efectivo
III. Subvenciones, donaciones y legados recibidos
IV. Por ganancias y pérdidas actuariales y otros ajustes
V. Por activos no corrientes y pasivos vinculados, mantenido para la venta
VI. Diferencias de conversión
VII. Efecto impositivo
B) TOTAL INGRESOS Y GASTOS IMPUTADOS DIRECTAMENTE EN EL PATRIMONIO NETO (I+II+III+IV+V+VI+VII)

(802), 902, 993, 994
(812), 912
(84)
(862),902; (NECA 8.ª 1.2)(821), 921; (NECA 8.ª 1.3) 8301*, (836), (837)

Transferencias a la cuenta de pérdidas y ganancias
VIII. Por valoración de instrumentos financieros
    1. Activos financieros disponibles para la venta
    2. Otros ingresos/ gastos
IX. Por coberturas de flujos de efectivo
X. Subvenciones, donaciones y legados recibidos
XI.Por activos no corrientes y pasivos vinculados, mantenidos para la venta
XII. Diferencias de conversión
XIII. Efecto impositivo
C) TOTAL TRANSFERENCIAS A LA CUENTA DE PÉRDIDAS Y GANANCIAS (VIII+IX+X+XI+XII+XIII)
TOTAL DE INGRESOS Y GASTOS RECONOCIDOS (A + B + C)

1. Statement of recognized income and expense for the year ended __ 200X

 

A. SALDO FINAL DEL AÑO 200X-2
I. Ajustes por cambios de criterio 200X-2 y anteriores
II. Ajustes por errores 200X-2 y anteriores

B. SALDO AJUSTADO, INICIO DEL AÑO 200X-1
I. Total ingresos y gastos reconocidosII. Operaciones con socios o propietarios
  1. Aumentos de capital

  2. ( - ) Reducciones de capital

  3. Conversión de pasivos financieros en patrimonio neto (conversión obligaciones, condonaciones de deudas)

  4. ( - ) Distribución de dividendos

  5. Operaciones con acciones o participaciones propias (netas)

  6. Incremento (reducción) de patrimonio neto resultante de una combinación de negocios

  7. Otras operaciones son socios o propietarios

III.  Otras variaciones del patrimonio neto

C. SALDO FINAL DEL AÑO 200X-1
I. Ajustes por cambios de criterio 200X-1
II. Ajustes por errores 200X-1


D. SALDO AJUSTADO INICIO DEL AÑO 200X
I. Total ingresos y gastos reconocidos
II.  Operaciones con socios o propietarios
  1. Aumentos de capital

  2. ( - ) Reducciones de capital

  3. Conversión de pasivos financieros en patrimonio neto (conversión obligaciones, condonaciones de deudas)

  4. ( - ) Distribución de dividendos

  5. Operaciones con acciones o participaciones propias (netas)

  6. Incremento (reducción) de patrimonio neto resultante de una combinación de negocios

  7. Otras operaciones son socios o propietarios

III. Otras variaciones del patrimonio neto

E. SALDO FINAL DEL AÑO 200X

13. Appendix IV

 

Appendix IV
MODEL CASH FLOW STATEMENTS FOR THE YEAR ENDED ___ 200X

A) FLUJOS DE EFECTIVO DE LAS ACTIVIDADES DE EXPLOTACIÓN
1. Resultado del ejercicio antes de Impuestos
2. Ajustes del resultado
  • Amortización del Inmovilizado (+)

  • Correcciones valorativas por deterioro (+/-)

  • Valoración de provisiones (+/-)

  • Imputación de subvenciones (-)

  • Resultados por bajas y enajenaciones del inmovilizado (+/-)

  • Resultados por bajas y enajenaciones de instrumentos financieros (+/-)

  • Ingresos financieros (-)

  • Gastos financieros (+)

  • Diferencias de cambio (+/-)

  • Variación de valor razonable en instrumentos financieros (+/-)

  • Otros ingresos y gastos (+/-)

3. Cambios en el capital corriente
  • Existencias (+/-)

  • Deudores y otras cuentas a cobrar (+/-)

  • Otros activos corrientes (+/-)

  • Acreedores y otras cuentas a pagar (+/-)

  • Otros pasivos corrientes (+/-)

  • Otros activos y pasivos no corrientes (+/-)

4. Otros flujos de efectivo de las actividades de explotación
  • Pagos de intereses (-)

  • Cobros de dividendos (+)

  • Cobros de intereses (+)

  • Cobros (pagos) por impuesto sobre beneficios (+/-)

  • Otros pagos (cobros) (+/-)

5. Flujos de efectivo de las actividades de explotación (1+2+3+4)

B) FLUJOS DE EFECTIVO DE LAS ACTIVIDADES DE INVERSIÓN
7. Cobros por desinversiones (+)
  • Empresas del grupo y asociadas

  • Inmovilizado intangible

  • Inmovilizado material

  • Inversiones inmobiliarias

  • Otros activos financieros

  • Activos no corrientes mantenidos para venta

  • Unidad de negocio

  • Otros activos

8. Otros flujos de efectivo de las actividades de inversión (6+7)

C) FLUJOS DE EFECTIVO DE LAS ACTIVIDADES DE FINANCIACIÓN
9. Cobros y pagos por instrumentos de patrimonio
  • Emisión de instrumentos de patrimonio (+)

  • Amortización de instrumentos de patrimonio (-)

  • Adquisición de instrumentos de patrimonio propio (-)

  • Enajenación de instrumentos de patrimonio propio (+)

  • Subvenciones, donaciones y legados recibidos (+)

10. Cobros y pagos por instrumentos de pasivo financiero
  • Emisión

    1. Obligaciones y otros valores negociables (+)

    2. Deudas con entidades de crédito (+)

    3. Deudas con empresas del grupo y asociadas (+)

    4. Deudas con características especiales (+)

    5. Otras deudas (+)

  • Devolución y amortización de

    1. Obligaciones y otros valores negociables (-)

    2. Deudas con entidades de crédito (-)

    3. Deudas con empresas del grupo y asociadas (-)

    4. Deudas con características especiales (-)

    5. Otras deudas (-)

11. Pagos por dividendos y remuneraciones de otros instrumentos de patrimonio
  • Dividendos (-)

  • Remuneración de otros instrumentos de patrimonio (-)

12. Flujo de efectivo de las actividades de financiación (9+10+11)

D) EFECTO DE LAS VARIACIONES DE LOS TIPOS DE CAMBIO
E) AUMENTO/DISMINUCIÍON NETA DEL EFECTIVO O EQUIVALENTES (5+8+12+D)

Efectivo o equivalentes al comienzo del ejercicio.
Efectivo o equivalentes al final del ejercicio.

1. The legislation on Spanish corporations is now contained in the Revised Corporate Enterprises Law, approved by Legislative Royal Decree 1/2010, of July 2, 2010, which repealed both the Revised Spanish Corporations Law and the Spanish Limited Liability Companies Law, to recast both of these laws in a single instrument which also includes the provisions in the Spanish Securities Market Law governing the more purely corporate matters of corporations whose securities are admitted to trading on an official secondary market, and the articles related Spanish partnerships limited by shares in the Spanish Commercial Code.
2.As regards such first-time application, Royal Decree 1514/2007, of November 16, approving the Spanish National Chart of Accounts, establishes a transitional regime so that companies may adapt thereto by preparing a corresponding opening balance sheet (Transitional Provisions One to Six). The regime also has implications in the aforementioned measurement bases in this connection.
3. If at the year-end date, any of the group companies has issued securities admitted for trading on a regulated market of any European Union member state, only the first section of Chapter I and the first section of Chapter II are • applicable obligatorily. This same criterion applies when the parent company opts to apply the international financial reporting standards adopted in European Union Regulations. The information referred to in points 1 to 9 of article 48 of the Commercial Code is required to be included in the notes to the financial statements in any event.
4. In the rules which expand upon these provisions, a distinction is drawn between an audit network and a non-audit network, the rule being that if the persons or entities included within the scope of such a network are in any of the situations of incompatibility envisaged in this Law and in other legal provisions, this will result in the auditor or audit firm being considered incompatible in relation to the company in question, without prejudice to the specific provisions in this respect which the Law also lays down.
*. May be positive or negative.