Septiembre 2011

Industry adaptation for public infrastructure concession operators

Mixed or bifurcated model:
The concession operator must simultaneously recognise a financial asset and an intangible asset
when the terms of the concession arrangement indicate that two types of consideration will be received.
The SNCA permits the use of the financial asset model or the
intangible asset model, rather than the bifurcated model, when either type of asset accounts for at least 90% of the consideration received.


Intangible asset model:
Capitalisation of borrowing costs after commencement of operation of the intangible asset:
The industry adaptation states that when the infrastructure is ready to come into operation borrowing costs may continue to be capitalised provided that they meet the requirements for being recognised as an asset (capable of being separately identified and reliably measured
and with reasonable evidence that the future benefits will be sufficient to make it possible to recover the amount capitalised).
IFRIC 12 also provides for the bifurcated model but does not establish any specific quantitative threshold for the use of the financial asset model or intangible asset model when two types of consideration are received.


Neither IFRIC 12 nor IAS 23 permit the capitalisation of borrowing costs after commencement of the operation of the intangible asset.

Deloitte in Spain

General description of Deloitte in Spain

Deloitte is the leading professional services firm in Spain. In terms of billings, the number of specialised professionals and geographical coverage, the firm is clearly ahead of its competitors.

The leading economic and financial newspaper in Spain, Expansión, ranked Deloitte as the top firm in its annual ranking of professional services firms. In addition, its position in the Merco Report, which ranks the 100 companies with the best reputation in Spain, has risen every year.

Also, the weekly publication Actualidad Económica (Recoletos Group) has ranked Deloitte since 1998 as one of the best companies to work for in Spain thanks to its career, training and work-environment policies. The Merco People report, which analyses how university students, employees and the general population view Spanish companies, singled the firm out as best company to work for in the professional services sector.

Deloitte’s maximum objective, together with the provision of top quality services, is to be a sustainable organisation over time. To this end, it works on its reputation and provides in-depth information on its activities to its stakeholders through its Corporate Responsibility report (a pioneer and unique publication in its sector), which

was rated with the maximum mark of “A+” by the internationally renowned Global Reporting Initiative.