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Resolution issued by the Accounting and Auditing Institute on 5 March 2019

On 11 March 2019 the Resolution issued by the Spanish Accounting and Auditing Institute on 5 March 2019 was published in Spain's Official State Gazette (the "BOE"). The Resolution develops the criteria for recording financial instruments, while addressing other accounting matters related to the commercial regulation for corporations.

As of 1 January 2020 the Resolution will be prospectively applicable in companies that apply the General Accounting Plan and the General Accounting Plan for Small and Medium Companies. However, companies may choose to apply it retrospectively.

The Resolution regulates:

  • the criteria for recording financial instruments in a company's annual financial statements;
  • the accounting implications of the commercial regulation with regard to social security contributions, transactions involving the company's own stock, distribution of profits and losses, increases and decreases in share capital, and other accounting aspects that arise from the commercial regulation.
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