Plan General de Contabildad y Normas de Consolidatión Guía de bolsillo

Published on: 05 Jan 2012

Deloitte (Spain) has published Plan General de Contabildad y Normas de Consolidatión Guía de bolsillo, an updated pocket guide to Spanish GAAP applicable to individual companies and unlisted consolidated groups (listed consolidated groups are subject to IFRSs as adopted by the EU).

The current Plan General de Contabilidad (Spanish National Chart of Accounts) was adopted for years beginning on or after 1 January 2008. Subsequently in 2010, new Rules for the Preparation of Consolidated Financial statements were approved 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. The Spanish GAAP is 'inspired by IFRSs' but not equivalent, and differences remain. The guide also includes a quick guide to the most significant differences with respect to IFRS.

The guide below is in Spanish, but is also available in English.


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