Septiembre 2011
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Contact information Audit Germán de la Fuente Partner gedelafuente@deloitte.es Professional Practice Manuel Arranz Partner maarranz@deloitte.es Accounting Cleber Custodio Partner clcustodio@deloitte.es Industries Products and Services Juan José Roque Partner jroque@deloitte.es FSI Francisco Celma Partner fcelma@deloitte.es EU&TMT Jesús Navarro Partner jenavarro@deloitte.es Andalusia and Extremadura Leopoldo Parias Partner lparias@deloitte.es Aragon and La Rioja Pedro Rodrigo Peña Partner prodrigopena@deloitte.es Canary Islands Ignacio Ramírez Partner igramirez@deloitte.es Castilla y León Bernardo Rescalvo Partner brescalvo@deloitte.es Catalonia and the Balearic Islands Jaume Buxó Partner jbuxo@deloitte.es Galicia
Eastern Spain Jesús Tejel Partner jtejel@deloitte.es Basque Country, Navarre and Asturias Alberto Uribe-Echevarria Partner auribeechevarria@deloitte.es ForewordIn recent years we have witnessed a series of highly significant changes relating to the Spanish accounting system. These changes have been a faithful reflection of the evolution and convergence of accounting standards at international level as well as the verification, by the users of financial statements, of the growing importance of accounting with respect to economic decision-taking in the highly complex environment in which we currently live: In the first phase, in 2005 it became obligatory for listed consolidated groups to issue their financial statements in accordance with International Financial Reporting Standards (IFRSs). In the second phase, in 2007 the new Spanish National Chart of Accounts was approved, applicable not only to listed companies (separate financial statements) but also to most other Spanish companies which, in general, had not previously had significant contact with the international standards. Lastly, the most recent phase saw in 2010 the approval of Rules for the Preparation of Consolidated Financial statements (NOFCAC) as well as certain amendments that affected four recognition and measurement standards in the Chart of Accounts, certain of which of such importance as Standard 19 on Business Combinations and Standard 21 on Transactions between Group Companies. There is no doubt that the implementation of all these changes to standards has presented a challenge and called for a significant effort, not only for the companies themselves but also for the various users of financial information, auditors, regulators, analysts and banks. However, experience has shown us that cooperation among the parties involved has without doubt been of unparalleled assistance, so much so that today we can say that the difficulties have been overcome and that as a result of the endeavours made to implement the new standards, the results achieved have been highly satisfactory. The aforementioned initial implementation and subsequent practical application have not been without difficulties which arose, among other factors, from the high degree of complexity of the new standards compared with the former Spanish National Chart of Accounts of 1990. This circumstance has frequently given rise to the need to interpret and compare the accounting standards; a process that, in any case, requires a joint effort from all the parties involved in order to achieve the desired outcome. 4We hope that this updated edition of The Spanish National Chart of Accounts and Consolidation Rules in your Pocket will be of use and provide assistance during this period of changes in which we are immersed. October 2011 Audit Professional Practice Director Deloitte Spain Contents Foreword 3 Historical context of the change in accounting legislation 11 Which chart of accounts can I apply? 19 Spanish National Chart of Accounts 23 Conceptual framework 24 Property, plant and equipment 27 Investment property 31 Intangible assets 32 Non-current assets and disposal groups classified as held for sale 36 Leases and other transactions of a similar nature 38 Financial instruments 41 Inventories 49 Foreign currency 51 Income tax 53 Revenue from sales and services 56 Provisions and contingencies 57 Liabilities for long-term employee benefits 58 Share-based payment 60 Grants, donations and legacies received 62 Joint ventures 64 Transactions between Group companies 65 Changes in accounting policies, errors and accounting estimates 67 Events after the reporting period 68 General rules for the preparation of financial statements 69 Statement of changes in equity 74 Statement of cash flows 75 Group companies, jointly controlled entities and associates 79 Related parties 81 Business combinations and Rules for the Preparation of Consolidated Financial Statements (NOFCAC) 85 Business combinations 86 Rules for the Preparation of Consolidated Financial Statements 91 Industry adaptations 105 Spanish National Chart of Accounts for Small and Medium-Sized Enterprises (SMEs) 109 Quick guide to most significant differences with respect to IFRSs 115 Deloitte in Spain 128 Offices 130 Yüklə 1,44 Mb. Dostları ilə paylaş:
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