Key Benefits:
Article 8. of Law 19/1989 of 25 July 1989 on the partial reform and adaptation of commercial law to the Directives of the European Economic Community on Societies and the final provision of the second Royal Decree of Law 1564/1989 of 22 December 1989. December, for which the recast text of the Law of Companies is approved, authorize the Minister of Economy and Finance to approve the adaptations, on a proposal from the Accounting and Audit Institute of Accounts and by Order. (a) Sectoral of the General Accounting Plan, where the nature of the activity of such sectors requires a change in the structure, nomenclature and teminology of the balance sheet items and the profit and loss account.
Likewise, the final provision of Royal Decree 1643/1990 of 20 December, which approves the General Accounting Plan, provides for approval by the Minister of Economy and Finance, on a proposal from the Institute of Accounting and Audit of Accounts, and by Order, of the sectoral adaptations of the General Accounting Plan, adding, moreover, that such sectoral adaptations will be drawn up taking into account the characteristics and nature of the activities of the specific sector in question, in accordance with both the rules and assessment criteria such as the structure, nomenclature and terminology of the annual accounts.
To these effects was constituted in the Institute of Accounting and Audit of Accounts a working group to adapt the General Plan of Accounting to the specific characteristics and the nature of the activities of the enterprises constructors.
The detailed rules for adaptation are structured, as is the General Accounting Plan, in five parts, which are preceded by an instroduction which explains the main characteristics of the activity of the Construction companies, the modifications introduced to make the adaptation and its justification.
The first part, accounting principles, has not been modified in relation to the General Accounting Plan.
In the second part, table of accounts, although it is not intended to exhaust all the possibilities that may occur in reality, specific accounts have been enabled for the contracting companies and have been eliminated, in some cases, accounts provided for in the General Accounting Plan, without prejudice to the use of construction companies if they so wish. However, the table of accounts is not to be compulsory in respect of the numbering and denomination of the accounts, although it constitutes a guide or a binding reference to the headings of the annual accounts.
The third part, definitions and accounting relationships, gives content and clarity to the accounts under the definitions that are incorporated, adding the specific concepts of the construction activity. This third party shall not be compulsory, except where it refers to or contains criteria for assessment or serves for its interpretation, and without prejudice to the explanatory nature of the various items in the annual accounts.
The fourth part, annual accounts, of mandatory observance, includes among the rules for the elaboration of the annual accounts the case that the construction company participates in one or several temporary unions of Companies. The Balance, Loss and Earnings and Memory models have undergone modifications to adapt their various items to the special characteristics of the construction companies.
The fifth part, valuation rules, is the one that has suffered the most, since it incorporates the mandatory criteria for valuation and accounting of economic operations and facts. Its adaptation to the construction sector has involved major changes.
In the text of rules for the adaptation of the General Accounting Plan to the construction companies, which is inserted below, only those parts that have been modified with respect to the General Plan have been included. the remainder is fully in line with the latter.
In relation to the foregoing, it must be specified that in all the non-modified provisions the General Accounting Plan will be applied in the terms provided for in Royal Decree 1643/1990 of 20 December, as well as the Resolutions issued by the Accounting and Audit Institute under the fifth final provision of the aforementioned standard.
This Order also contains a transitional arrangement through which the same valuation criterion that has been chosen to account for the sales or revenue per work executed on those items is allowed to continue. works that are in the execution phase at the date of entry into force of this standard.
Moreover, the final provision contains the aforementioned date of entry into force, as well as the enforcement of the present rules of adaptation to the General Accounting Plan.
Finally, it should be noted that the rules concerning the temporary unions of undertakings included in these adaptation rules may be applicable in general.
The present rules constitute the adaptation of the General Accounting Plan to the characteristics and nature of the activity of the construction sector and like the latter are the development of the Fourth Directive of the EEC on the right of companies, the Code of Commerce and the recast of the Law on Companies. Consequently, the rules of adaptation form part of a genuine accounting law of compulsory compliance, which proclaims its autonomy with respect to the tax rule and which contains criteria other than those prescribed in the tax legislation. Therefore, the relations between these accounting rules and the tax provisions will be governed by the provisions of the seventh Royal Decree 1643/1990 of 20 December 1990, which approved the General Plan of Accounting.
For all the above, in order to enable construction companies to have a technically prepared text to provide, in a standardised manner, the corresponding accounting information, and in accordance with the report of the State Council,
This Ministry has agreed:
First. -Approve the norms of adaptation of the General Plan of Accounting to the construction companies, the text of which is inserted below.
Second. -This text will be mandatory for all companies, regardless of their legal, individual or corporate form, that perform the indicated activity.
By way of derogation from the preceding subparagraph, the numbering and the denomination of accounts of the second part of these adaptation rules, and the accounting movements included in the accounts, shall not be binding. the third part of them.
TRANSIENT DISPOSITION
The valuation criterion used for the accounting of sales in the works existing at the date of entry into force of this Order may be maintained until the end of the same.
FINAL DISPOSITION
This rule shall enter into force on the day following that of its publication in the Official Journal of the State.
The rules for the adaptation of the General Accounting Plan shall be binding, in accordance with the terms set out in the second paragraph of this Order, for the financial years beginning after 31 December 1992.
What I communicate to VV. EE. and VV. II. for their knowledge and effects.
Madrid, January 27, 1993.
CATALAN SOLCHAGA
Excms. and Ilmos. Mr Secretary of State for Economic Affairs, Secretary of State for Finance, Undersecretary for Economic Affairs and Finance and President of the Accounting and Audit Office.
RULES FOR ADAPTING THE GENERAL ACCOUNTING PLAN TO CONSTRUCTION COMPANIES
INTRODUCTION
I
1. In order to draw up the rules for adapting the General Accounting Plan to the special characteristics of the construction companies, a working group consisting of experts who have developed their work at the Institute of Construction has been set up. Accounting and Audit of Accounts. In the course of the meetings held, the various issues raised by the matter have been studied, deepening the most typical problems of the construction activity and proposing in each case the solutions that are judged most reasonable.
The fruit of all these tasks are the present adaptation rules, which contemplate the transactions of the construction companies with the various economic agents, facilitating at the end of the exercise, by the appropriate calculation process, the external information contained in the annual accounts.
Obvious is to say that these standards of adaptation, like all those formulated by the Institute, are open to gather the innovations that proceed. All will depend on the evolution of the construction companies, the changes that they experience in time their own variables, the accounting progress and, most especially, the suggestions of professionals and experts supported in their observations to the apply the model.
These rules are based on the principles, structure and systematic of the General Accounting Plan, approved by Royal Decree 1643/1990 of 20 December, which constitutes development in accounting matters. In the case of the Court of Justice, the Court held that the Court of Justice held that the Court of Justice held that the Court of Justice held that the Court of Justice held that the Court of First Community Directives.
2. These adaptation rules shall apply to undertakings which carry out the activities listed below in accordance with the name contained in Royal Decree 1560/1992 of 18 December 1992 approving the Classification of the National of Economic Activities. For these purposes, the numbering and denomination included in the aforementioned Royal Decree has been collected, and they have been defined by the working group as follows:
45.1 Preparation of works. -Demolition and movement of lands, drilling and drilling.
45.2 General construction of buildings and civil engineering works. -General construction of buildings and singular civil engineering works (bridges, tunnels ...), construction of roofs and structures of enclosure, construction of motorways, roads, landing fields, railways and sports centres, and other specialised buildings.
45.3 Buildings and works installations. -Electrical installations, thermal, acoustic and anti-vibration insulation, plumbing and installation of air conditioning and other installations of buildings and works.
45.4 Finishing of buildings and works. -Revocations, carpentry installations, floor and wall coverings, glazing and painting and other works of buildings and works finishes.
45.5 Rental of construction or demolition equipment equipped with operator. -Rental of construction equipment or demolition equipped with operator.
Construction activity in many companies is done simultaneously with the real estate; therefore it is necessary to point out the difficulty of pursuing a common objective in the accounting planning of two sectors, construction and promotion, whose activities, although very interrelated, are different. It has been decided to draw up two sectoral adaptations, one for each sector, which will study the most suitable solutions to the peculiarities of each sector, without prejudice to the connections that must necessarily exist.
The concurrence of various activities with different sectoral adaptations in the same company may give rise to some technical difficulties to be mentioned. This concurrence, which is not exclusive to the construction companies, but is presented in many other activities, has to be the subject of a thorough study in order to formulate a suitable solution. Obviously, the Company's accounting plan must be unique, although with the specifications that allow economic data to be established in harmony with the various activities or farms that are carried out. From a technical point of view, it is necessary to assemble two or more sectoral adaptations to constitute a single text as a result of the harmonious and coherent conjunction of all of them. A single table of accounts will have to be formulated, even by altering the codification where necessary. In the same way, the accounting relationships will have to be reviewed in order to make the changes required by the synthesis itself. As regards the annual accounts, the structure of the accounts will have to be adjusted, applying a good aggregation technique, to the models contained in the corresponding sectoral adaptations.
It should therefore be noted that in cases of double activity, that is, construction activity and real estate activity, the adjustment rules for each of them, respectively, shall apply, without prejudice to that in future sectoral adaptations, particularly in relation to the construction sector, such as the sectoral adaptation to the real estate companies, standard mechanisms are established to assemble the adaptations (a) Sectoral applicable to those undertakings in which several activities are carried out; and (a) to the detriment of potential development standards which the Institute for Accounting and Audit of Accounts can draw up on the treatment of multi-activity in enterprises.
3. The adaptation of the General Accounting Plan to the construction sector has been imposed by:
The differential characteristics offered by this sector in relation to other sectors of activity, mainly because their operations are halfway between the industrial and service sectors.
The proliferation of economic units that develop their activity within this sector.
The participation of the human factor in the production process reaches the highest percentage of active population within the industrial sector.
Your contribution to the formation of the Gross National Product.
The demand for first matter, which is very diversified, treating materials of the most varied species.
The existence of a large multiplicity of construction classes.
Among the basic characteristics of the construction sector, we can quote:
Performing jobs by order.
The long term of the production process that can be encrypted, in average terms, between twelve and twenty-four months for the works of urban construction, and two to four years for public works.
The uncertainty of the price, due, on the one hand, to the long-term production obligation to the periodic review of prices and, on the other, to the frequent need for adaptation and modification of the project during the execution of the work.
The magnitude in absolute terms of the price of each order, which implies, on many occasions, the need to concentrate in a single project great means, both personal, material and instrumental as financial.
This situation has resulted in a very common practice in the construction sector, such as the work of several joint ventures, under the temporary union of companies (UTES). Possibly the companies in this sector are the ones that have used this regulation as established in Law 18/1982, of 26 May (as amended by Law 12/1991, of April 29, of Economic Interest Groups).
The special arrangement of the Work Center. In the construction sector, each work is equivalent to an industrial plant in any other sector. And each work arises where it really takes place, where it is precisely demanded.
The complex character of activities that are typically performed from a building company. The main activity, which is the execution of works as a contractor, is complemented by actions of direct promotion, activities of study and development of own and foreign projects, performance of specific functions of the industry auxiliary, etc.
An increasing number of general contractors have implemented the economic policy of subcontracting an important part of their construction projects to subcontractors.
4. The working group which has studied the adaptation of the General Accounting Plan was aware from the outset that the peculiarities of the construction sector required a detailed study of the economic facts of the sector. Construction companies that the General Accounting Plan could not contemplate.
Although the criteria set out by the various components of the working group have been assessed, the decisions taken have given priority to those which, in line with the lines set out in the General Accounting Plan and In view of the nature of the facts, they allow a true accounting reflection of their economic and financial significance.
II
5. The rules for adapting the General Accounting Plan to the construction companies have the same structure as that. They contain five parts:
Accounting principles.
Chart of Accounts.
Definitions and Accounting Relationships.
Annual accounts.
Valuation rules.
6. The first part, accounting principles, does not contain modifications to the text of the General Accounting Plan as it develops, systematizes and complements the provisions of Article 38 of the Commercial Code, applicable to all types of employers.
7. The second part, table of accounts, contains the sector-specific accounts and sub-groups which do not appear in the General Accounting Plan and those other than those which have undergone some adjustment, without prejudice to the fact that the companies in the sector, in the cases in which certain transactions so require, have to be served by other accounts included in the General Accounting Plan.
The titles and the structure of the sub-groups of the General Accounting Plan have been respected, but the preparation of the sectoral adaptation has, in some very significant cases, required the modification of the accounts and the breakdown of several of them into four-digit accounts. In addition, specific accounts for the construction activity have been enabled.
8. In the third part, definitions and accounting relationships, for the incorporation of the construction terminology, it has been necessary to make certain changes in the definition and movement of some accounts, especially those belonging to the Groups 3, 4, 6 and 7.
In group 1 there are few variations. Account 109 has been entered.
Group 2 contains no interest-worthy variations.
Group 3 refers to the existing stocks of the construction activity. Sub-groups 30, 31, 33, 34, 35 and 37, which have been modified in their nomenclature, definition and content, should be mentioned; this should include the inclusion of account 309, which collects goods which construction companies are obliged to to admit of their clients in debt compensation and which, as a general rule, are represented by real estate.
Subgroup 31 includes a series of accounts intended to account for stocks that are normally held by the construction companies for their operating needs.
Subgroup 33 contains the initial project or project expenses incurred by the contractor before the contract is formalized and prior to its award.
The particularities of subgroup 34. Works in progress are reflected both in the valuation rules and in the annex which has been introduced into the memory.
The subgroup 37, specific to the construction activity, contains all those works not directly certifiable that are necessary for the performance of the work and are pending incorporation to it.
Not entered in group 3. Stocks,
Group 4 has been the subject of several modifications. Through subgroup 41,
Account 434 is enabled to pick up a specific customer type, which is required to account for the executed work revenue to be certified, depending on the method of the percentage of realization described subsequently. In addition, the account 439 collects the amounts corresponding to certain work in advance.
In subgroup 49, modifications have been made to traffic provisions that are necessary for the construction sector; these are the provisions for compensation at the end of the work, compensation to staff, for completion of work and for losses in works.
Group 5 contains only one account not provided for in the General Accounting Plan, account 554, through which the operations performed by the Company are collected with the temporary unions of companies in which it participates.
Group 6 has been subject to several amendments to the need to adapt the accounts of sub-groups 60, 61 and 62 to the most common expenditure incurred by construction companies. Sub-group 69 has undergone variations to collect allocations for sector-specific provisions.
Group 7 includes important modifications. Special interest is the subgroup 70, which accounts for the revenue of the Company for its construction activity. This subgroup has duly quantified the number of businesses, by the construction activity, in a rigorous sense.
It has been considered convenient to remove the concept of
Through the account 738, the possibility has been considered that the goods received for the collection of credits that are accounted for in stock could become later part of the permanent structure of the Company.
Finally, sub-group 79 again contains the necessary modifications to collect the excess of sector-specific provisions.
9. The fourth part, annual accounts, has been the subject of two very important changes. The first concerns the rules for drawing up the annual accounts, including a number of paragraphs for the collection of the way in which the construction companies will have to draw up their annual accounts when participating in one or more of the accounts. temporary joint ventures.
Second, the Balance and Profit and Loss Account models themselves have undergone the appropriate modifications to adapt the different items to the concepts of the construction sector.
Also, in paragraph 4 of the memory, valuation rules, innovations are introduced, requiring to give information on the criteria used for the determination of the specific items of this sector. In addition, new paragraphs have been introduced for information concerning commercial credits, temporary joint ventures and order book.
10. The fifth part comprises the valuation rules in which, although they have been adjusted as far as possible to those of the General Accounting Plan, it has been necessary to include important amendments.
In accordance with the above, it should be specified that, in everything not expressly modified, the rules and criteria of assessment contained in the General Plan of Accounting, as well as the Resolutions dictated by the Accounting and Audit Institute of Accounts under the fifth final provision of Royal Decree 1643/1990 of 20 December, approving the General Accounting Plan.
In the stock valuation standard, it should be noted that both the ancillary works for the execution of works and the initial project or project costs will be imputed to the works themselves well linearly in the period of duration of the work or in proportion to the relationship between costs incurred and total planned costs of work.
In the event that the project is not awarded, the initial costs of the project will be directly imputed to results.
In terms of the goods received for the collection of credits, two different positions that determine different accounting treatments were proposed at the meetings of the working group. On the one hand, it was proposed to classify them within group 3
After an objective assessment of the criteria set out above, as well as a realistic analysis of the economic fact that was discussed and, because the intentionality of the companies, in general, is not to incorporate the goods The Commission has decided to include the Commission in the light of its fixed assets in the form of compensation for its fixed assets, but rather the payment of debts in the shortest possible time, and taking account of other considerations such as the representativeness of the balance sheet, financial analysis, economic studies, etc. group 3,
Another important issue, which has been widely discussed by the working group, is the question of the activity of construction companies under the temporary union of companies. This particular issue has been directly reflected in this sectoral adaptation, without prejudice to the fact that this system is generally applicable.
To establish the valuation rules regarding the integration and accounting of the operations of the temporary unions of Companies in the companies that constitute them, two alternatives have been handled:
The inclusion of assets, liabilities, income and expenses in the corresponding proportion.
The inclusion by the net, in the corresponding proportional share.
The detailed study of both alternatives has led the working group to decline for the first one, as stated in the fifth part of this text.
For these purposes, specific accounts for operations that are carried out with the temporary unions of companies have been enabled in this sector adaptation.
It should be noted that one of the most debated topics in the working group meetings of this sectoral adaptation has been the choice of the method to be used in the accounting of sales and revenue by executed work; considered the following two:
Method of the realization percentage.
Contract method met.
Both methods and their use have been included in the valuation rules of this text.
Based, fundamentally, on international practices, we have opted for the use, in general, of the method of the percentage of realization, which has been understood as the most appropriate method for the reflection of the faithful image and the compliance with accounting principles. However, it is possible that in certain cases (basically the inapplicability, for technical reasons, of the method of the percentage of realization), the so-called "method of the contract fulfilled" applies.
Question that arises as a result of the above is the definition of the business figure so that it is presented in the annual accounts with the rigor that requires a clean information that allows the user to obtain the true image of the production unit. The casuism that is present in these companies has been analyzed with great care; the legal and economic elements that intervene in the problem have been conjugated and a criterion has been chosen that, harmonizing these elements, has the advantage of serving support to a clear, concrete and easily intelligible basis for all the construction companies whatever their specialties and their size or size.
In the construction companies it is called as
Two trends have been raised for the accounting treatment of this economic fact. One puts it in group 3,
This case has led to two criteria that mean different accounting approaches, a sector has been pronounced for the accounting of the venats according to the certified work, that is, of the certifications performed. The other secor proposed the accounting of sales according to the work carried out, that is, of the units of work that have been completely completed.
Both alternatives have been widely debated, concepts relating to the right of ownership of goods have been handled, once incorporated into a product (project), and on the basis of a contract linking the contractor, who, under certain conditions of quality, period, etc., it is obliged to recognise the debt to the contractor of the part of the project carried out in the period concerned. So much so, that it is obliged to issue the so-called certification of works, which is nothing more than the collection document for the contractor as recognition of that debt.
Moreover, the fact that the work to be certified must be valued at the sale price and not at the purchase price or production cost, which is how the stock is valued, determined the inclusion of the work to be certified in the group 4,
With the application of these accounting rules it is concluded that the sales figure will be composed of the following subcommands:
Work units that are completed at the end of the year to which the annual and certified accounts correspond.
Work units completed at the end of the year to which the annual accounts correspond and which have not been certified.
Work units certified in previous years and completed during the year to which the annual accounts correspond.
All of the above regarding the accounting of sales in the construction companies is closely linked to the application of the so-called " method of the percentage of realization>, which according to the norms of the In general, the method used by the construction companies for the accounting of sales and revenue per work performed.
However, as stated above, it is possible that, in compliance with certain conditions, the so-called "contract method" is applied for the accounting of the income; in this case, the account 701.
11. Finally, the Accounting and Audit Institute of Accounts recommends to the construction companies the application of any cost accounting system, with which they will have enriched the information of the external accounting and with it open the possibilities of knowing deeply the costs, as well as to apply the most appropriate policy of prices in their economic transactions.
III
12. In accordance with the requirements of the Trade Code, the recast of the Law on Limited Companies, and in accordance with the Fourth Directive, particular attention has been paid to the objective of the annual accounts being the faithful image of the the company's assets, its financial position and its results. According to this way of thinking, it is a question of avoiding the interference of foreign elements to those that condition the rigor as a basic requirement of the accounting information that produces the application of a very careful model as is the General Plan of Accounting.
Adapted the General Accounting Plan to the special characteristics of the construction companies, the Accounting and Audit Institute of Accounts has the assurance that they will have a very useful instrument for his own management. In addition, the normalized information that is obtained with the application
the Plan will lead to such companies formulating their annual accounts with sufficient content to respond to the demands of the various economic operators and to improve national statistics.
SECOND PART
Chart of Accounts
Note. -Only sector-specific accounts and sub-groups that do not appear in the General Accounting Plan and those that have been the subject of modification in terms of their accounting definition or relationships are included.
For these purposes, these accounts appear in the corresponding subgroup, with the rest of the accounts that complete the same.
GROUP 1
Basic Financing
10. Capital.
100. Social capital.
1000. Ordinary capital.
1001. Privileged capital.
1002. Non-voting capital.
1003. Capital with restricted rights.
101. Social fund.
102. Capital.
109. operational fund (+).
GROUP 2
Quiesced
22. Tangible fixed assets.
220. Land and natural goods.
221. Constructs (+).
222. Technical installations.
223. Machinery.
224. Tools and auxiliary means (+).
2240. Use (+).
2241. Auxiliary means (+).
225. Other facilities.
226. Furniture.
227. Equipment for information processes.
228. Transport elements.
229. Other tangible fixed assets.
28. Accumulated depreciation of fixed assets.
281. Accumulated depreciation of intangible fixed assets.
2810. Accumulated depreciation of research and development expenditure.
2811. Accumulated depreciation of administrative concessions.
2812. Accumulated depreciation of industrial property.
2813. Accumulated amortisation of goodwill.
2814. Cumulative amortisation of transfer rights.
2815. Cumulative depreciation of IT applications.
2817. Accumulated depreciation of rights on goods under the leasing scheme.
282. Accumulated depreciation of tangible fixed assets.
2821. Accumulated depreciation of buildings.
2822. Accumulated depreciation of technical facilities.
2823. Accumulated depreciation of machinery.
2824. Accumulated depreciation of tools and auxiliary means (+).
2825. Accumulated depreciation of other facilities.
2826. Accumulated depreciation of furniture.
2827. Accumulated depreciation of equipment for information processes.
2828. Accumulated depreciation of transport elements.
2829. Accumulated depreciation of other tangible assets.
GROUP 3
Stocks
30. Commercial (+).
300. Merchandise (+).
309. Goods received for collection of credits (+).
31. Building materials and storable elements (+).
310. Refined petroleum products (+).
311. Steel and steel products (+).
312. Cements and Yesas (+).
313. Building materials (+).
314. Ceramic products (+).
315. Glass (+).
316. Base chemicals and derivatives and plastic and textile material (+).
317. Products and metal material (+).
318. Electrical equipment (+).
319. Wood (+).
32. Other supplies.
320. Embeddable elements and assemblies (+).
321. Fuels (+).
322. Spare parts.
325. Miscellaneous materials (+).
328. Office material.
33. Initial project or project expenditure (+).
330. Initial preliminary draft expenditure (+).
335. Initial project expenditure (+).
34. Works in progress (+).
340. Residential building (+).
341. Non-residential building (+).
342. Civil engineering (+).
345. Retrained, added and modifications of work (+).
35. Finished works (+).
350. Residential building (+).
351. Non-residential building (+).
352. Civil engineering (+).
36. By-products, waste and recovered materials (+).
360. By-products A.
361. By-products B.
365. Waste A.
366. Waste B.
368. Materials recovered A.
369. Materials recovered B.
37. Ancillary work (+).
370. General work facilities (+).
371. Specific facilities for work (+).
39. Provisions for depreciation of stocks.
390. Provision for depreciation of commercial stocks (+).
391. Provision for depreciation of materials and storable elements (+).
392. Provision for depreciation of other supplies.
393. Provision for depreciation of initial preliminary or project (+) expenses.
394. Provision for depreciation of works in progress (+).
395. Provision for depreciation of finished works (+).
396. Provision for depreciation of by-products, waste and recovered materials.
397. Provision for depreciation of ancillary work (+).
GROUP 4
Creditors and debtors by traffic operations
40. Suppliers.
400. Suppliers.
4000. Suppliers (pesetas).
4004. Suppliers (foreign currency).
4008. Suppliers, retentions by guarantee (+).
4009. Suppliers, invoices to receive or to formalize.
401. Suppliers, commercial effects to be paid.
402. Suppliers, Group companies.
4020. Suppliers, Group companies (pesetas).
4021. Commercial effects to be paid, Group companies.
4024. Suppliers, Group companies (foreign currency).
4026. Packaging and packaging to be returned to suppliers, Group companies.
4028. Suppliers, Group companies, holds per guarantee (+).
4029. Suppliers, Group companies, invoices to receive or to formalize.
403. Suppliers, Associated Companies.
406. Packaging and packaging to be returned to suppliers.
407. Advances to suppliers.
41. Sub-contractors and several other creditors (+).
410. Subcontractors (+).
4100. Subcontractors (pesetas) (+).
4104. Subcontractors (foreign currency) (+).
4108. Sub-contractors, holds per guarantee (+).
4109. Subcontractors, invoices to be received or to formalize (+).
411. Subcontractors, commercial effects to be paid (+).
412. Subcontractors, Group companies (+).
4120. Subcontractors, Group companies (pesetas) (+).
4121. Commercial effects to be paid, Group companies (+).
4124. Subcontractors, Group companies (foreign currency) (+).
4128. Sub-contractors, Group companies, holds per guarantee (+).
4129. Subcontractors, Group companies, invoices to be received or formalized (+).
413. Subcontractors, Associated Companies (+).
414. Other creditors for services (+).
4140. Other creditors for services (pesetas) (+).
4144. Other creditors for the provision of services (foreign currency) (+).
4148. Other creditors, retentions by guarantee (+).
4149. Other creditors for services, invoices to be received or to formalize (+).
415. Other creditors, commercial effects to be paid (+).
417. Advances to subcontractors (+).
419. Creditors for transactions in common (+).
43. Clients:
430. Customers (+).
4300. Customers (pesetas).
4304. Clients (foreign currency).
4308. Customers, holds for warranty (+).
431. Customers, commercial effects to be charged.
4310. Commercial effects on portfolio.
4311. Discounted trade effects.
4312. Commercial effects on collection management.
4315. Unpaid business effects.
432. Customers, Group companies.
4320. Customers, Group companies (pesetas).
4321. Commercial effects to be charged, Group companies.
4324. Clients, Group companies (foreign currency).
4328. Clients, Group companies, holds per guarantee (+).
4329. Clients, Companies of the group, work executed pending to certify (+).
433. Customers, Associated Companies.
434. Clients, work executed pending to certify (+).
4340. By order and with contract (+).
4341. In processing (+).
435. Clients of doubtful collection.
437. Customer advances (+).
439. Clients, work certified in advance (+).
46. Staff:
460. Advances in remuneration.
464. Deliveries for expenditure to be justified (+).
465. Remuneration to be paid.
49. Provisions for traffic operations:
490. Provision for traffic insolvencies.
4905. Provision for clients for work pending certification (+).
492. Provision for compensation at the end of the work (+).
493. Provision for business traffic insolvencies of the group.
494. Provision for traffic insolvencies of Associated Enterprises.
496. Provision for staff allowances (+).
4960. By dismissal (+).
4961. Other allowances (+).
497. Provision for completion of work (+).
4970. For completion of work (+).
4971. For the removal of work (+).
4972. For settlement of work (+).
4979. Other (+).
498. Provision for losses by works (+).
4980. By works (+).
4981. By transactions with temporary joint ventures (+).
4982. For works abroad (+).
499. Provision for other traffic operations.
GROUP 5
Financial Accounts
55. Other non-bank accounts:
550. Holder of the holding.
551. Current account with Group Companies.
552. Current account with associated companies.
553. Current account with partners and administrators.
554. Current account with temporary joins of Companies (+).
5540. Shares in temporary joint ventures (+).
5541. Contributions to temporary joint ventures (+).
5542. Other operations with temporary joint ventures (+).
555. Items to be applied.
56. Disbursements required on shares.
5560. Required disbursements on company shares in the group.
5561. Required disbursements on shares of associated companies.
5562. Disbursements required on shares of other companies.
557. Active dividend on account.
558. Shareholders for required disbursements.
GROUP 6
Purchases and Expenses
60. Shopping:
600. Purchases of commercial stocks (+).
601. Purchases of materials and storable elements (+).
602. Purchases of other supplies.
606. Work carried out by subcontractors (+).
6060. Residential building (+).
6061. Non-residential building (+).
6062. Civil engineering (+).
607. Work carried out by other companies.
608. Purchases returns and similar transactions.
6080. Commercial stock purchases returns (+).
6081. Returns on purchases of materials and storable items (+).
6082. Purchases returns from other supplies.
609.
6090.
6091.
6092.
61. Stock variation:
610. Change in commercial stocks (+).
611. Change in stocks of materials and storable items (+).
612. Change in stocks of other supplies.
62. External services:
620. Expenditure on research and development of the financial year.
621. Leases and royalties (+).
6210. Machinery leases (+).
6211. Vehicle leases (+).
6213. Other leases (+).
622. Repairs and conservation.
6220. Conservation (+).
6221. Ordinary repairs (+).
6222. Extraordinary repairs (+).
623. Services of independent professionals.
624. Transport (+).
6240. Transport of machinery (+).
6241. Other transport (+).
625. Insurance premiums.
626. Banking and similar services.
627. Advertising, propaganda and public relations.
6270. Advertising (+).
6271. Propaganda (+).
6272. Public relations (+).
628. Supplies.
629. Other services.
6290. Travel expenses (+).
63. Tributes:
630. Tax on profits.
631. Other tributes.
6310. State taxes (+).
6311. Municipal taxes (+).
6312. Fees (+).
633. Negative adjustments in taxation on profits.
634. Negative adjustments to indirect taxation.
6341. Negative adjustments in circulating VAT.
6342. Negative adjustments in VAT on investments.
636. Tax refund.
638. Positive adjustments in taxation on profits.
639. Positive adjustments in indirect taxation.
6391. Positive adjustments in circulating VAT.
6392. Positive adjustments in VAT on investments.
64. Staff costs:
640. Wages and salaries.
641. Compensation (+).
6410. By dismissal (+).
6411. Other allowances (+).
642. Social security in charge of the Company.
643. Contributions to supplementary pension schemes.
649. Other social expenditure.
65. Other management costs:
650. Losses of bad commercial credits.
651. Results from operations in common.
6510. Benefit transferred (manager).
6511. Loss supported (participate or non-manager associated).
654. Compensation for the purpose of work (+).
659. Other losses in current management (+).
69. Endowments to provisions:
690. Allocation to the reversal fund.
691. Allocation to the provision of intangible fixed assets.
692. Provision for the provision of tangible fixed assets.
693. Allocation to the provision of stocks.
694. Provision for the provision for traffic insolvencies.
6945. Provision for the provision for clients for work to be certified (+).
695. Provision for provision for other traffic operations (+).
6953. Provision for the provision for compensation at the end of the
work (+).
6954. Provision for the provision for staff allowances (+).
6955. Provision for the provision for completion of work (+).
6956. Provision for the provision for losses by works (+).
696. Provision for the provision for long-term marketable securities.
6960. Provision for the provision for long-term equity holdings of Group Companies.
6961. Provision for the provision for long-term equity holdings of associated companies.
6963. Provision for the provision for long-term marketable securities of other companies.
6965. Provision for the provision for long-term fixed income securities of Group Companies.
6966. Provision for the provision for long-term fixed income securities of associated companies.
697. Provision for the provision of long-term credit insolvencies.
6970. Provision for the provision of long-term credit insolvencies to Group companies.
6971. Provision for the provision of long-term credit insolvencies to associated companies.
6973. Provision for the provision of long-term credit insolvencies to other companies.
698. Provision for the provision for marketable securities in the short term.
6980. Provision for the provision for short-term marketable securities of Group Companies.
6981. Provision for the provision for short-term marketable securities of associated companies.
6983. Provision for the provision for short-term marketable securities of other companies.
699. Provision for the provision of short-term credit insolvencies.
6990. Provision for the provision of short-term credit insolvencies to Group companies.
6991. Provision for the provision of short-term credit insolvencies to associated companies.
6993. Provision for the provision of short-term credit insolvencies to other companies.
GROUP 7
Sales and revenue
70. Sales of goods, works, services, etc.
700. Work executed and certified (+).
7000. Residential building (+).
7001. Non-residential building (+).
7002. Civil engineering (+).
701. Sales of commercial stocks (+).
702. Sales of finished work (+).
7020. Residential building (+).
7021. Non-residential building (+).
7022. Civil engineering (+).
703. Sales of by-products and waste (+).
705. Services (+) services.
706. Completed work to be certified (+).
7060. By order and with contract (+).
7061 Processing (+).
707. Sales of materials (+).
708. Sales returns and similar transactions.
71. Change in stocks.
710. Change in stocks of works in progress (+).
712. Change in stocks of finished works (+).
713. Change in stocks of by-products, residues and recovered materials.
714. Initial project or project (+) initial expenditure change.
715. Change in stocks of auxiliary work (+).
73. Work done for the Company.
730. Addition to the Establishment Expense Asset.
731. Work carried out for intangible fixed assets.
732. Work carried out for the fixed assets.
733. Work carried out for the fixed equipment.
737. Incorporation into the Asset of Debt Formalization Expenses.
738. Stocks incorporated by the Company into its fixed assets (+).
75. Other management revenue.
751. Results of operations in common.
7510. Loss transferred (manager).
7511. Profit attributed (participating or non-managing partner).
752. Revenue from leases.
753. Industrial property revenue ceded in operation.
754. Fee income.
755. Income from services to staff.
756. Income from benefits to temporary unions of enterprises (+).
759. Miscellaneous services revenue.
76. Financial income.
760. Income from equity participations.
7600. Income from equity holdings of Group companies.
7601. Income from equity holdings of associated companies.
7603. Income from equity holdings of other companies.
761. Income from fixed income securities.
7610. Income from fixed income securities of Group Companies.
7611. Income from fixed income securities of associated companies.
7613. Income from fixed income securities of other companies.
762. Revenue from long-term loans.
7620. Long-term credit income to Group Companies.
7621. Long-term credit income to associated companies.
7623. Long-term credit income to other companies.
763. Short-term credit income.
7630. Short-term credit income to Group Companies.
7631. Short term credit income to associated companies.
7633. Short-term credit income to other companies.
765. Discounts on purchases for early payment (+).
7650. Discounts on purchases for early payments from Group companies.
7651. Discounts on purchases for early payment from associated companies.
7653. Discounts on purchases for early payment from other companies.
766. Benefits in marketable securities.
7660. Profit on long-term marketable securities of Group Companies.
7661. Benefits in long-term marketable securities of associated companies.
7663. Benefits in long-term marketable securities of other companies.
7665. Benefits in short term marketable securities of Group Companies.
7666. Benefits in Short-Term Marketable Securities of Associated Companies.
7668. Benefits in short-term marketable securities of other companies.
768. Positive differences of change.
769. Other financial income.
79. Excess and application of provisions.
790. Excess provision for risks and expenses.
791. Excess supply of intangible fixed assets.
792. Excess supply of the fixed assets.
793. Provision of applied stocks.
794. Provision for applied traffic insolvencies.
7945. Provision for clients for work pending certification (+).
795. Provision for other applied traffic operations (+).
7953. Provision for compensation for the purpose of applied work (+).
7954. Provision for compensation of applied staff (+).
7955. Provision for applied work termination (+).
7956. Provision for losses by applied works (+).
796. Excess provision for long-term marketable securities.
7960. Excess provision for long-term equity holdings of Group Companies.
7961. Excess provision for long-term equity holdings of associated companies.
7963. Excess provision for long-term marketable securities of other companies.
7965. Excess provision for long-term fixed income securities of Group Companies.
7966. Excess provision for long-term fixed income securities of associated companies.
797. Excess provision for long-term credit insolvencies.
7970. Excess provision for long-term credit insolvencies of Group Companies.
7971. Excess provision for long-term credit insolvencies of associated companies.
7973. Excess provision for long-term credit insolvencies of other companies.
798. Excess provision for marketable securities in the short term.
7980. Excess provision for short term marketable securities of Group Companies.
7981. Excess provision for short term marketable securities of associated companies.
7983. Excess provision for short-term marketable securities of other companies.
799. Excess provision for short-term credit insolvencies.
7990. Excess provision for short-term credit insolvencies of Group Companies.
7991. Excess provision for short-term credit insolvencies of associated companies.
7993. Excess provision for short-term credit insolvencies of other companies.
THIRD PART
Accounting definitions and relationships
Note. -Only those subgroups and accounts whose definition or accounting relationship have been the subject of modification are included.
GROUP 1
Basic Financing
Comprises own resources and long-term foreign financing of the Company, which are generally intended to finance the permanent asset and to cover a reasonable margin of circulation; it also includes the income to be distributed in various exercises, own actions and other transitional situations of basic financing.
10. Capital.
100. Social capital.
101. Social fund.
102. Capital.
109. Operational Fund (+):
Capital of temporary joint ventures.
Your move is as follows:
(a) It shall be paid for the initial contributions made.
b) The extinction of the temporary union will be charged.
GROUP 2
Quiesced
Comprises the elements of the patrimony destined to serve in a lasting way in the activity of the Company.
22. Tangible fixed assets.
220. Land and natural goods.
221. Constructs (+).
222. Technical installations.
223. Machinery.
224. Tools and auxiliary means (+).
2240. Use (+).
2241. Auxiliary means (+).
225. Other facilities.
226. Furniture.
227. Equipment for information processes.
228. Transport elements.
229. Other tangible fixed assets.
221. Contructions (+).
Buildings in general for their own use or for the lease, excluding in any case those intended for sale.
224. Tools and auxiliary means (+).
2240. Use (+).
Set of tools or tools that can be used autonomously or in conjunction with machinery, including moulds and templates.
2241. Auxiliary means (+).
Construction sector own instruments, not included in other accounts of this subgroup, such as wood and metal scaffolds, wood and metal formwork with possibility of reuse, specimens, etc.
Annual regularisation (by physical count) to which the valuation rules relate will require the payment of account 224, with account 659.
GROUP 3
Stocks
Commercial stocks, building materials, other supplies, initial project or project expenses, works in progress, finished works, by-products, waste, recovered materials and auxiliary works.
30. Commercial (+).
300. Merchandise (+).
309. Goods received for collection of credits (+).
Things acquired by the Company and destined for sale without transformation. Goods received in compensation of third-party debts are included.
The accounts 300/309 will be included in the Balance Asset; they will only work on the occasion of the end of the financial year.
Your move is as follows:
(a) The amount of the initial stock inventory shall be paid at the end of the financial year to account for 610.
(b) They shall be charged for the amount of the inventory of stocks at the end of the financial year that is closed, with credit to the account 610.
If the goods on the way are owned by the Company, according to the terms of the contract, they will appear as stocks at the end of the year in the respective accounts of the subgroup 30. This rule shall also apply where products, materials, etc. are on the way, including in this sub-group and in the following sub-groups.
Note. -In the event that after the acquisition of goods received for the collection of credits it is decided to incorporate them into the fixed assets, the amount of the amount will be charged to the corresponding account of group 2, with credit to the
account 738.
31. Building materials and storable elements (+).
310. Refined petroleum products (+).
311. Steel and steel products (+).
312. Cements and Yesas (+).
313. Building materials (+).
314. Ceramic products (+).
315. Glass (+).
316. Base chemicals and derivatives and plastic and textile material (+).
317. Products and metal material (+).
318. Electrical equipment (+).
319. Wood (+).
Those that, by incorporation, are used for the execution of the works.
310. Refined petroleum products (+).
Fuels (which have the quality of storage, not collected in account 628), lubricants, bitumen, asphalts, etc.
311. Steel and steel products (+).
Viguets, rails, bars, armors for concreting, veneers, white iron, coated sheets, cloaked soldiers, concrete armor, steel tubes, etc.
312. Cements and Yesas (+).
Cements, gypsum and plaster, pre-kneaded concrete, beams, joists, poles, mischievous and other structural elements made of concrete, concrete or centrifugal cement with steel core and elements for channelling, blocks, bovels, tiles, terrazzo, rungs and elements of artificial stone, tubing, fibre-cement plates, etc.
313. Building materials (+).
Arena, gravel, gravel, ballast, bulkheads and other natural or machaqueo or natural stones, cobblestones, kerbs, pellets, sills, plates, boards and other elements of stone, made, bricks, blocks, bovels, tiles, tiles, tiles, tubes and other elements of cooked land, tiles, etc.
314. Ceramic products (+).
Loza, porcelain and stoneware sanitary appliances (washbasins, toilets, bidets, piles, sinks, etc.)
315. Glass (+).
Flat glass (stretched, armed, printed, moon polished, tempered, layered, double glazing, mirrors, etc.), glass fibre for insulation and other glass articles.
316. Base chemicals and derivatives and plastic and textile material (+).
Rubber products, paints, varnishes and lacquers; base products for coating, bottled oxygen, derivatives of synthetic bitumens, abrasives and explosives made by the chemical industry (waterproofing sealed). Plastic insulating or thermal insulators, pipes, plates and other plastic finished products. Papers and coating fabrics.
317. Products and metal material (+).
Metal carpentry in doors, windows, frames, railings, grills, verges and other elements (conduits, drains, vents, etc.). Elements of a heating, grifair and plumbing, locks, locks, fittings, nails, screws, wires, fabrics and metal meshes. Household appliances, kitchens, heaters, heating appliances, lifts and metal furniture.
318. Electrical equipment (+).
Electrical conductors, tables, circuit breakers, transformers, lighting equipment, telephone equipment and other materials for electrical installations, thermal insulators, etc.
319. Wood (+).
Wood carpentry (doors, windows, frames, fences, mouldings, blinds, furniture, etc.), parquet and entarimates, planks, boards and boards, rolets and posts and cork elements.
The accounts 310/319 will appear in the Balance Asset and their movement is analogous to the one for the accounts 300/309.
32. Other supplies.
320. Embeddable elements and assemblies (+).
321. Fuels (+).
322. Spare parts.
325. Miscellaneous materials (+).
328. Office material.
320. Embeddable elements and assemblies (+).
Those manufactured normally outside of the Company and acquired by it to incorporate them into the work without undergoing them to transform.
321. Fuels (+).
Energy materials susceptible to storage, not included in account 310.
325. Miscellaneous materials (+).
Other consumer issues that are not to be incorporated into construction.
The accounts 320/329 will appear in the Balance Asset and their movement is analogous to the one for the accounts 300/309.
33. Initial project or project expenditure (+).
330. Initial preliminary draft expenditure (+).
335. Initial project expenditure (+).
Costs incurred by the contractor, before the contract is formalized and prior to its award.
Accounts 330/339 will appear in the Balance Sheet Asset and its movement is similar to that for the 340/349 accounts.
34. Works in progress (+).
340. Residential building (+).
341. Non-residential building (+).
342. Civil engineering (+).
345. Retrained, added and modifications of work (+).
Work units that are in the form of training or partial execution at the end of the financial year and which have not been computed as sales or turnover.
Accounts 340/349 will be included in the Balance Sheet Asset; they will only work for the end of the financial year.
Your move is as follows:
(a) They shall be paid at the end of the year by the amount of the initial stock inventory, charged to the account 710.
b) They will be charged for the amount of the inventory of end-of-year stock that is closed, with credit to the account 710.
Note.-The valuation rules concerning the work in progress have been introduced in Standard 18.
35. Finished works (+).
350. Residential building (+).
351. Non-residential building (+).
352. Civil engineering (+).
Work units terminated at the end of the financial year.
The 350/359 accounts will appear in the Balance Sheet Asset and its movement is similar to that for the 340/349 accounts.
36. By-products, waste and recovered materials (+).
360. By-products A.
361. By-products B.
365. Waste A.
366. Waste B.
368. Recovered materials A.
369. Recovered materials B.
By-products: The secondary or accessory of the works.
Wastes: Those obtained inevitably and at the same time as when performing the main or accessory works, provided they have intrinsic value and can be used or sold.
Recovered materials: Those that, because they have intrinsic value, enter the warehouse again after they have been used in the works.
The accounts 360/369 will be included in the Balance Sheet and its movement is similar to that for the accounts for 340/349.
37. Ancillary work (+).
370. General work facilities (+).
371. Specific facilities for work (+).
Jobs, not directly certifiable, necessary for the execution of the work and pending to be incorporated into it.
General Installations of Work: Those that originate from the assembly of a work, necessary to execute it and that affect the total set of the work.
Specific Installations of Work: Those that originate from the assembly of specific elements to execute certain units of work.
The accounts 370/379 will be included in the Balance Sheet Asset and its movement is similar to that for the 340/349 accounts.
39. Provisions for depreciation of stocks.
390. Provision for depreciation of commercial stocks (+).
391. Provision for depreciation of materials and storable elements (+).
392. Provision for depreciation of other supplies.
393. Provision for depreciation of initial preliminary or project (+) expenses.
394. Provision for depreciation of works in progress (+).
395. Provision for depreciation of finished works (+).
396. Provision for depreciation of by-products, waste and recovered materials.
397. Provision for depreciation of ancillary work (+).
Accounting expression of reversible losses that are evidenced by the inventory of exercise closing stocks.
The 390/397 accounts will appear in the Balance Sheet Asset by minoring the stock.
Your move is as follows:
(a) They shall be paid for the allocation to be made in the financial year which is closed, with a cost of 693.
(b) They shall be charged for the allocation made at the end of the preceding financial year, with payment of account 793.
GROUP 4
Creditors and debtors for traffic operations. -Personal accounts and active and passive commercial effects that have their origin in the Company's traffic, as well as the accounts with the public administrations, including those that correspond to balances with a maturity of more than one year. For the latter and for the purposes of classification, sub-groups 42 and 45 may be used or the reclassification of sub-groups may be carried out in their own accounts.
41. Sub-contractors and several other creditors (+).
410. Subcontractors (+).
411. Subcontractors, commercial effects to be paid (+).
412. Subcontractors, Group companies (+).
413. Subcontractors, Associated Companies (+).
414. Other creditors for services (+).
415. Other creditors, commercial effects to be paid (+).
417. Advances to subcontractors (+).
When service provider creditors are group, multi-group or associated companies, three-digit accounts shall be opened that specifically collect debits with the same, including those that are formalized for the purposes of spin.
410. Subcontractors (+).
Debts with natural or legal persons who perform, for the contractor, either the partial or total execution of a work, or the carrying out of works of their own which complement the activity of the contractor.
It will appear in the Balance Sheet.
Your movement, generally, is as follows:
a) You will pay for the receipt of works and services, with account 606.
b) Charged:
b) By the formalization of the debt in order of turn accepted, with credit to the account 411.
b) By the total or partial cancellation of the Company's debts with the subcontractors, with credit to the accounts of subgroup 57.
b) For the discounts, whether or not included in the invoice, which grant the Company, soon to be paid, its subcontractors, with credit to the account 765.
411. Subcontractors, commercial effects to be paid (+).
Debts to subcontractors, formalised in accepted spin-off effects.
It will appear in the Balance Sheet.
Your move is as follows:
(a) It shall be paid when the Company accepts the effects, generally charged to the account 410.
(b) The payment of the effects shall be charged upon arrival, with credit to the accounts corresponding to the sub-group 57.
412. Subcontractors, Group companies (+).
Debts to the group's companies in their capacity as subcontractors, even if the debts have been formalised for spin purposes.
It will appear in the Balance Sheet.
Its motion is analogous to the one pointed out for account 410.
413. Subcontractors, Associated Companies (+).
Debts to multi-group companies and associated in their capacity as subcontractors, even if the debts have been formalised for spin purposes.
It will appear in the Balance Sheet.
Its motion is analogous to the one pointed out for account 410.
414. Other creditors for services (+).
Debts to suppliers of services that do not have the strict condition of suppliers or subcontractors.
It will appear in the Balance Sheet.
Your move is as follows:
(a) It shall be paid for the receipt of the , in general charge, to the accounts of the subgroup 62.
b) Charged:
b) By the formalization of the debt in order of turn accepted, with credit to account 415.
b) By the total or partial cancellation of the Company's debts
with the creditors, with credit to the accounts corresponding to the subgroup 57.
415. Other creditors, commercial effects to be paid (+).
Debts to suppliers of services that do not have the strict condition of suppliers or subcontractors, formalized in order to be accepted.
It will appear in the Balance Sheet.
Your move is as follows:
(a) It shall be paid when the Company accepts the effects, generally charged to the account 414.
(b) The payment of the effects shall be charged for the payment of the due date, with the payment of the accounts corresponding to the sub-group 57.
417. Advances to subcontractors (+).
Deliveries to sub-contractors, typically cash, in concept of
of future works or services to be performed.
When these deliveries are made to group, multi-group or associated companies, the corresponding four-figure accounts must be developed.
They will be in the Balance Asset.
Your move is as follows:
(a) It shall be charged for the deliveries of cash to subcontractors, with credit to sub-group 57 accounts.
(b) The termination of the works or services performed by subcontractors , which is generally charged to the account 60 6.
43. Customers.
430. Customers (+).
431. Customers, commercial effects to be charged.
432. Customers, Group companies.
433. Customers, Associated Companies.
434. Clients, work executed pending to certify (+).
435. Clients of doubtful collection.
437. Customer advances (+).
439. Clients, work certified in advance (+).
430. Customers (+).
Amount of the work certifications or invoices issued by executed work, as well as credits for sales or credits with the users of the services provided by the Company, provided they constitute a main activity.
It will appear in the Balance Asset.
Your move is as follows:
a) It will be loaded:
(a) For the amount of the sales made and the work executed and certified in the financial year, with credit to the accounts of the subgroup 70.
(a) For the amount of the work carried out in previous years and certified in the financial year, with credit to account 434.
a) For the amount of the work certified and pending to be executed, with credit to account 439.
b) It will be paid:
b) By the formalization of the credit in order to be accepted by the client, with charge to the account 431.
(b) By the total or partial cancellation of the debts of the clients, usually charged to the accounts of subgroup 57.
b) By its classification as clients of doubtful collection, with charge to the account 435.
b) For the part that will definitely be uncollectible, with account of the account 650.
b) For discounts, whether or not included in the invoice, which are granted to customers for payment of the account 665.
b) For sales returns, with account 708.
Note.-The fees or other taxes, if any, which the client will deduct from the amount of the certification, will generally be charged to the accounts of the subgroup 63, with credit to the account 430.
434. Clients, work executed pending to certify (+).
Amount of the work executed in the exercise and pending certification at the end of the exercise.
It will appear in the Balance Asset.
Your move is as follows:
(a) The amount of the work carried out on the same and uncertified work shall be charged at the end of the financial year with the payment of account 706.
b) To be paid, to the issue of the certification of the work carried out in previous years, with charge to the account 430.
437. Customer advances (+).
Customer deliveries, typically in cash, as a of future supplies. In particular, the certificates collected shall be included when the method of the contract is followed for the recognition of income.
When these deliveries are made by group, multi-group or associated companies, the three-figure accounts must be developed with the corresponding breakdowns.
It will appear in the Balance Sheet.
Your move is as follows:
(a) It shall be paid for the cash receipts from the account corresponding to the sub-group 57.
(b) It shall be charged on the basis of the sales or revenue per work executed to the customers, with credit, generally, to the accounts of the subgroup 70.
439. Clients, work certified in advance (+).
Amount of the certified amounts outstanding.
When these amounts belong to Group, multi-group or associated companies, the three-figure accounts must be developed with the corresponding breakdowns.
It will appear in the Balance Sheet.
Your move is as follows:
(a) It shall be paid for the amount of the work certified and pending to be executed, with the account of 430.
b) It will be charged when the work is executed, with credit, generally, to the accounts of the subgroup 70.
46. Personal.
460. Advances in remuneration.
464. Deliveries for expenditure to be justified (+).
465. Remuneration to be paid.
464. Deliveries for expenditure to be justified (+).
Quantities delivered to the Company's personnel for further justification.
It will appear in the Balance Asset.
Your move is as follows:
(a) The deliveries quoted shall be charged on the basis of a sub-group 57 accounts.
(b) Deliveries shall be made on the basis of the accounts of group 6 which correspond, and in the case of surplus, to the accounts of subgroup 57.
49. Provisions for traffic operations.
490. Provision for traffic insolvencies.
492. Provision for compensation at the end of the work (+).
493. Provision for business traffic insolvencies of the group.
494. Provision for traffic insolvencies of Associated Enterprises.
496. Provision for staff allowances (+).
497. Provision for completion of work (+).
498. Provision for losses by works (+).
499. Provision for other traffic operations.
492. Provision for compensation at the end of the work (+).
Provisions to deal with expenses for compensation at the end of the work, excluding those collected in account 496.
It will appear in the Balance Sheet.
Your move is as follows:
(a) The amount of the estimate made shall be paid at the end of the financial year to account for 6953.
(b) The allocation made in the previous year with the payment of account 7953 shall be charged at the end of the financial year.
496. Provision for staff allowances (+).
Provisions for staff compensation, for works.
It will appear in the Balance Sheet.
Your move is as follows:
(a) The amount of the estimate made shall be paid at the end of the financial year to account for 6954.
(b) The allocation made in the previous year shall be charged at the end of the financial year with the payment of account 7954.
497. Provision for completion of work (+).
Provisions to deal with the costs of conservation of the work during the period of guarantee, removal of work and release of facilities and expenses of liquidation and sureties until their return.
It will appear in the Balance Sheet.
Your move is as follows:
(a) The amount of the estimate made shall be paid at the end of the financial year to the account of 6955.
(b) The allocation made in the previous year shall be charged at the end of the financial year with credit to the account 7955.
498. Provision for losses by works (+).
Provisions for the coverage of loss estimation in non-completed works, including those that correspond to the Company for the operations of the temporary joint ventures.
This account shall also include the estimated amount to be made against the net debtor position derived from the non-convertible financial assets and liabilities at the end of the financial year in accordance with the terms laid down in the Valuation Standards.
It will appear in the Balance Sheet.
Your move is as follows:
(a) The amount of the estimate made shall be paid at the end of the financial year to account for 6956.
(b) The allocation made in the previous year shall be charged at the end of the financial year with a subscription to the account 7956.
GROUP 5
Financial Accounts
Debts and credits for operations other than traffic with a maturity of not more than one year and available liquid assets.
55. Other non-bank accounts:
550. Holder of the holding.
551. Current account with Group Companies.
552. Current account with associated companies.
553. Current account with partners and administrators.
554. Current account with temporary joins of Companies (+).
555. Items to be applied.
556. Disbursements required on shares.
557. Active dividend on account.
558. Shareholders for required disbursements.
554. Current account with temporary joins of Companies (+).
Collects the movements with the temporary unions in which the Company participates, derivatives of contributions, including the foundation, money returns of the temporary unions of Companies, mutual benefits of means, services and other services, and allocations of the results obtained in the temporary unions of Companies.
Your move is as follows:
(a) It will be charged for the remittances or deliveries made by the Company, with credit to the accounts of the groups 2, 5 and 7 that correspond.
(b) It shall be paid for the receipts in favour of the Company, from the accounts of groups 2, 5 and 6 that correspond.
GROUP 6
Purchases and Expenses
Supplies of goods acquired by the Company to resell them, either without altering their form and substance, or prior to submission to the construction process. It also includes all expenditure for the financial year, including purchases of services and consumables, the change in stocks acquired and the extraordinary loss of the financial year.
In general, all accounts in Group 6 are paid at the end of the financial year, with account for 129 accounts; for this reason, the movements of the successive accounts of the group will only be referred to. The exceptions shall include the reasons for payment and the counterpart accounts.
60. Shopping:
600. Purchases of commercial stocks (+).
601. Purchases of materials and storable elements (+).
602. Purchases of other supplies.
606. Work carried out by subcontractors (+).
607. Work carried out by other companies.
608. Purchases returns and similar transactions.
609.
600/601/602/606/607. Purchases of (+).
Supply of the Company of goods included in subgroups 30, 31 and 32.
It also includes the works that, as part of the process of production itself, are faced by subcontractors or other companies.
These accounts will be charged for the amount of the purchases, the receipt of the remittances from the suppliers or their entry on the way if the goods and goods are transported on behalf of the Company, with credit to the accounts of the subgroup 40, 41 or 57.
In particular, account 606 will be charged to the receipt of the works entrusted to subcontractors.
Account 607 will be charged to the receipt of the works entrusted to other Companies, which do not have the strict condition of subcontractors.
61. Stock variation:
610. Change in commercial stocks (+).
611. Change in stocks of materials and storable items (+).
612. Change in stocks of other supplies.
610/611/612. Stock variation of (+).
Accounts intended to record, at the end of the financial year, changes between final and initial stocks, corresponding to sub-groups 30, 31 and 32 (commercial, material and other supplies).
Your move is as follows:
They shall be charged for the amount of the initial stock and shall be paid for the final stock, with credit and charge, respectively, to the accounts of the sub-groups 30, 31 and 32. The balance resulting from these accounts shall be charged or paid, as the case may be, to account 129.
62. External services:
620. Expenditure on research and development of the financial year.
621. Leases and royalties (+).
622. Repairs and conservation.
623. Services of independent professionals.
624. Transport (+).
625. Insurance premiums.
626. Banking and similar services.
627. Advertising, propaganda and public relations.
628. Supplies.
629. Other services.
Services of a different nature acquired by the Company, not included in the sub-group 60 or which are not part of the purchase price of fixed assets or temporary financial investments.
Charges in accounts 620/629 will normally be charged to account 414, to accounts of subgroup 57, to provisions of subgroup 14 or, if applicable, to account 475.
621. Leases and royalties (+).
Leases:
The accruals for the rental of movable and immovable property in use or at the disposal of the Company. In particular, accruals for the rental of machinery and vehicles are included.
Canyons:
Fixed or variable amounts that are satisfied by the right to use or the granting of use of the various manifestations of industrial property.
624. Transport (+).
Transport by the Company made by third parties, where it is not necessary to include them in the purchase price of the fixed asset or the stock. This account shall be recorded, inter alia, in the case of sales and machinery.
64. Staff costs:
640. Wages and salaries.
641. Compensation (+).
642. Social security in charge of the Company.
643. Contributions to supplementary pension schemes.
649. Other social expenditure.
641. Compensation (+).
Amounts to be delivered to the Company's personnel to resarile damage or injury. Specifically included in this account are severance payments and early retirements.
It will be charged for the amount of the compensation, with credit to the accounts of the subgroups 46, 47 or 57.
65. Other management costs:
650. Losses of bad commercial credits.
651. Results of operations in common.
6510. Benefit transferred (manager).
6511. Loss supported (participate or non-manager associated).
654. Compensation for the purpose of work (+).
659. Other losses in current management (+).
654. Compensation for the purpose of work (+).
Amounts that are delivered upon completion of the work to compensate the customer for damage or injury.
It will be charged for the amount of the compensation, with credit to the accounts of the subgroups 43 or 57.
659. Other losses in current management (+).
Those with this nature do not appear in previous accounts. In particular, it shall reflect the annual adjustment of tools, tools and ancillary means.
69. Endowments to provisions:
690. Allocation to the reversal fund.
691. Allocation to the provision of intangible fixed assets.
692. Provision for the provision of tangible fixed assets.
693. Allocation to the provision of stocks.
694. Provision for the provision for traffic insolvencies.
695. Provision for provision for other traffic operations (+).
696. Provision for the provision for long-term marketable securities.
697. Provision for the provision of long-term credit insolvencies.
698. Provision for the provision for marketable securities in the short term.
699. Provision for the provision of short-term credit insolvencies.
695. Provision for provision for other traffic operations (+).
Endowment, performed at the end of the financial year, for risks and expenses arising from sales returns, repair guarantees, revisions, completion of work, losses for works and other traffic operations.
It will be charged for the amount of the estimated depreciation, with credit to the accounts 492, 496, 497, 498 or 499.
GROUP 7
Sales and revenue
Income from works, disposal of goods and services that are the object of the Company's traffic; it also includes other income, variation of stocks and extraordinary profits of the financial year.
In general, all accounts in Group 7 are charged at the end of the financial year, with credit to account 129; therefore, when the group is set up, only the credit will be made reference. The exceptions shall include the reasons for the charge and the counterpart accounts.
70. Sales of goods, works, services, etc.
700. Work executed and certified (+).
701. Sales of commercial stocks (+).
702. Sales of finished work (+).
703. Sales of by-products and waste (+).
705. Services (+) services.
706. Completed work to be certified (+).
707. Sales of materials (+).
708. Sales returns and similar transactions.
700. Work executed and certified (+).
Work executed in the exercise and certified in the exercise.
It shall be paid for the amount of the certifications, issued in the financial year, corresponding to works executed in the year, from the accounts of the subgroups 43 or 57.
701. Sales of commercial stocks (+).
Transactions, with output or delivery of the goods included in the subgroup 30, by price.
It will be paid for the amount of the sales, from the accounts of the subgroups 43 or 57.
702. Sales of finished work (+).
Transactions, with output or delivery of finished works.
It will be paid for the amount of the sales, from the accounts of the subgroups 43 or 57.
703. Sales of by-products and waste (+).
Transactions, with output or delivery of goods included in subgroup 36, by price.
It will be paid for the amount of the sales, from the accounts of the subgroups 43 or 57.
705. Services (+) services.
Revenue from own services of construction, project and design activity.
It will be paid for the amount of the income, from the accounts of the subgroups 43 or 57.
706. Completed work to be certified (+).
Work executed in the exercise and pending certification at the end of the exercise.
To be paid, at the end of the financial year, for the amount of the works executed on the same and not certified, with account 434.
707. Sales of materials (+).
Transactions, with output or delivery of goods included in subgroup 31. It generally includes sales of surplus materials from works or demolitions.
It will be paid for the amount of the sales, from the accounts of the subgroups 43 or 57.
71. Change in stocks.
710. Change in stocks of works in progress (+).
712. Change in stocks of finished works (+).
713. Change in stocks of by-products, residues and recovered materials.
714. Initial project or project (+) initial expenditure change.
715. Change in stocks of auxiliary work (+).
710/715. Change in stocks of ... (+).
Accounts intended to record, at the end of the financial year, changes between final and initial stocks, corresponding to sub-groups 33, 34, 35, 36 and 37 (initial project or project expenditure, works in progress, finished works, by-products, waste and recovered materials and ancillary work.
Your move is as follows:
They shall be charged for the amount of the initial stock and shall be paid for that of the final stock, with credit and charge, respectively, to the accounts of the sub-groups 33, 34, 35, 36 and 37. The balance resulting from these accounts shall be charged or paid, as the case may be, to account 129.
73. Work done for the Company.
730. Addition to the Establishment Expense Asset.
731. Work carried out for intangible fixed assets.
732. Work carried out for the fixed assets.
733. Work carried out for the fixed equipment.
737. Incorporation into the Asset of Debt Formalization Expenses.
738. Stocks incorporated by the Company into its fixed assets (+).
738. Stocks incorporated by the Company into its fixed assets (+).
Incorporation of assets collected in sub-groups 30 or 34 into fixed assets.
It shall be paid for the amount by which stocks are listed in the sub-groups mentioned, with the corresponding account of the
group 2.
75. Other management revenue.
751. Results of operations in common.
7510. Loss transferred (manager).
7511. Profit attributed (participating or non-managing partner).
752. Revenue from leases.
753. Industrial property revenue ceded in operation.
754. Fee income.
755. Income from services to staff.
756. Income from benefits to temporary unions of enterprises (+).
759. Miscellaneous services revenue.
756. Income from benefits to temporary unions of enterprises (+).
Those originated by the media, services, and other services provided to the temporary unions of Companies.
It will be paid for the amount of the suplids, charged to account 554.
76. Financial income.
760. Income from equity participations.
761. Income from fixed income securities.
762. Long-term revenue from credit.
763. Short-term credit income.
765. Discounts on purchases for early payment (+).
766. Benefits in marketable securities.
768. Positive differences of change.
769. Other financial income.
765. Discounts on purchases for early payment (+).
Discounts and assimilated that you grant to the Company its suppliers, subcontractors and other creditors for early payment, whether or not included in the invoice.
It will be paid for the discounts and assimilated granted, usually charged to the accounts of the subgroup 40 or 41.
79. Excess and application of provisions.
790. Excess provision for risks and expenses.
791. Excess supply of intangible fixed assets.
792. Excess supply of the fixed assets.
793. Provision of applied stocks.
794. Provision for applied traffic insolvencies.
795. Provision for other applied traffic operations (+).
796. Excess provision for long-term marketable securities.
797. Excess provision for long-term credit insolvencies.
798. Excess provision for marketable securities in the short term.
799. Excess provision for short-term credit insolvencies.
795. Provision for other applied traffic operations (+).
Amount of existing provision at the close of the previous year.
To be paid, at the end of the financial year, for the amount in the preceding financial year, under the accounts 492, 496, 497, 498 or 499.
FOURTH PART
Annual accounts
Note: Only those rules for drawing up annual accounts that have been subject to adaptation are included.
The Balance and Profit and Profit Account models are included in their entirety.
In relation to Memory models, only those sections that have been subject to adaptation are included, so that the sections of it that have undergone some change, even the different numbering, are included in their all.
I. RULES FOR DRAWING UP ANNUAL ACCOUNTS
5. Balance sheet
The Balance Sheet, which comprises, with due separation, the assets and rights that constitute the Company's Asset and the obligations and own funds that form the Passive of the Company, shall be made taking into account that:
(a) In addition to the figures for the financial year which is closed, the following shall be shown for each item immediately preceding the preceding financial year. For these purposes, where some and other effects are not comparable, either because there has been a change in the structure of the balance sheet or a change in imputation, the amounts of the preceding financial year shall be adjusted for the purposes of of its presentation in the current exercise.
(b) The criteria for accounting for one financial year shall not be altered unless exceptional cases are indicated and justified in the report.
(c) The items to which no amount corresponding in the financial year or in the preceding year shall not be included.
(d) The structure from one financial year to another shall not be modified except exceptional cases to be indicated in the Report.
e) New items may be added to those provided for in the normal and abbreviated models, provided that their content is not provided for in the existing ones.
f) A more detailed subdivision of the items appearing on the models can be made, both in the normal and the abbreviated.
g) Items preceded by Arabic numbers may be grouped together if they represent only an irrelevant amount to show the true image or if clarity is favoured.
(h) The claims and debts of Group or Associated Enterprises, whatever their nature, shall be included in the corresponding Assets or Liabilities items, with the separation of those that do not correspond to Group or Associated Enterprises, respectively. For these purposes, the associated companies will also include relationships with multi-group companies.
(i) The short-to long-term classification shall be made taking into account the expected maturity, disposal or cancellation. It shall be considered as a long-term period of more than one year from the date of the end of the financial year.
(j) The overall amount of the duties on assets affected by leasing transactions to be shown in the Asset shall be entered in separate heading. For these purposes, a item is created under item B. II of the Assets of the Balance sheet, with the name
k) Financial investments with a maturity of not more than one year shall be listed under item D. IV of the Asset,
(l) Pending disbursements on actions constituting permanent financial investments that are not required but which, in accordance with Article 42 of the Recast Text of the Companies Act, are required in the short term shall be included in item E.V. 3 of the Balance Sheet.
m) Non-financing with a maturity of not more than one year shall be included in the pool E of the Passive,
n) Where there are provisions for risks and expenses due not exceeding one year, the group F of the Passive shall be created, with the name of
o) When own shares are held, pending redemption, acquired in execution of a capital reduction agreement adopted by the General Board shall be created under item A. VIII of the Passive, with the name "Shares" own for capital reduction >. This heading, which will always have a negative sign, will cover the amount of own funds.
p) For the debit accounts for traffic operations with a maturity of more than one year, item B. VI of the Asset shall be created, with the name q) For the credit accounts for traffic operations with a maturity of more than one year, item D. VI of the Passive shall be created, with the denomination of r) For the accounts of s) Companies participating in one or more temporary joint ventures shall present the Balance sheet on the basis of the provisions of the valuation standard 21, in one of the following forms: Integrating in each balance sheet the amounts corresponding to the temporary unions of companies in which they participate. Differentiating in each balance sheet the amount corresponding to the construction company itself and to the temporary unions of companies. Chosen one of the above options to prepare the Balance sheet, the same should be applied for the Profit and Loss Account. 6. Profit and Loss Account The Loss and Earnings Account, which includes, with due separation, the income and expenses of the financial year and, by contrast, the result of the exercise, shall be made taking into account that: (a) In addition to the figures for the financial year which is closed, the following shall be shown for each item immediately preceding the preceding financial year. For these purposes, where some and other effects are not comparable, either because there has been a change in the structure of the Loss and Profit Account or because an imputation change is made, the amounts of the the preceding financial year, for the purposes of its submission in the current financial year. (b) The items to which no amount corresponding in the financial year or in the preceding year shall not be included. (c) The structure of one financial year shall not be modified unless exceptional cases are indicated in the report. (d) New items may be added to those provided for in the normal and abbreviated models, provided that their content is not provided for in the existing ones. e) A more detailed subdivision of the items appearing in the models, both in normal and abbreviated, may be made. (f) Items preceded by Arabic numbers may be grouped together if they represent only an irrelevant amount to show the true image or if they favour clarity. g) In the corresponding items to associated companies will also include the relationships with multi-group companies. h) Short-term, long-term debt financial expenses will be included in the Must, in Pool 7, (i) The amounts corresponding to (j) Companies participating in one or more temporary joint ventures shall be required to present the Loss and Profit Account, subject to the provisions of the valuation standard 21, in one of the following ways: By integrating into each item of the Loss and Earnings Account the amounts corresponding to the temporary unions of companies in which they participate. Differentiating in each item from the Loss and Earnings Account the amount corresponding to the construction company itself and to the temporary unions of Companies. 7. Memory The Full Memory, extends and comments on the information contained in the Balance sheet and the Loss and Earnings Account; it will be made taking into account that: (a) The model of the Memory collects the minimum information to be completed; however, in cases where the information requested is not significant, the corresponding paragraphs will not be completed. (b) Any other information not included in the model of the Memory which is necessary to facilitate the understanding of the annual accounts to be presented shall be indicated in order to reflect the true image of the accounts. of the assets, the financial situation and the results of the Company. (c) What is established in the Report, in relation to the associated companies, should also be understood as referring to the multigroup companies. (d) The provisions of paragraph 4 of the Memory shall be adapted for presentation, in any case, in a synthetic manner and in accordance with the requirement of clarity. (e) Companies participating in one or more temporary joint ventures and opting to present the Balance Sheet model, in each item of the balance sheet, the amounts corresponding to the temporary unions of undertakings in the the figures corresponding to those temporary unions of undertakings shall be detailed in each section of the report. (II. MODELS OF ANNUAL ACCOUNTS OMITTED) MEMORY Memory Content 4. Valuation rules.-The accounting criteria applied for the following items shall be indicated: (a) Establishment expenses; indicating the criteria used for capitalization, depreciation and, where applicable, sanitation. (b) Intangible fixed assets; indicating the criteria used for capitalization, depreciation, provisions and, where applicable, sanitation. Justification, if any, for the amortisation of the goodwill over a period of more than five years. In addition, the criteria for accounting for leasing contracts will be specified. c) Fixed material, indicating the criteria for: Amortization and provision of provisions. Capitalization of interest and exchange differences. Accounting for extension, modernization, and improvement costs. Determination of the cost of the work done by the Company for its fixed assets. The items of the fixed assets held in the asset for a fixed amount. Value updates practiced under a law. (d) marketable securities and other similar financial investments, distinguishing in the short and long term; indicating the valuation criteria and, in particular, specifying the criteria for valuation corrections. e) Non-commercial credits, distinguishing in the short and long term; indicating the criteria for valuation and, in particular, specifying those followed in the valuation corrections and, where applicable, the accrual of interest. (f) Stocks; indicating the valuation criteria and, in particular, specifying the criteria for valuation corrections. In addition, the criteria for the valuation of the items in the Asset for a fixed amount shall be specified. g) Own shares held by the Company. h) Grants; indicating the criterion of imputation to results. i) Provisions for pensions and similar obligations; indicating the accounting criterion and carrying out a general description of the method of estimation and calculation of each of the risks covered. (j) Other provisions of Group 1; indicating the accounting criterion and making a general description of the method of estimation and calculation of the risks or expenses included in those provisions. k) Debts, distinguishing in short and long term; indicating the valuation criteria, as well as the imputation of the results of the interest or deferred premiums. l) Profit tax; indicating the criteria used for accounting. m) Foreign currency transactions; indicating the following: Criteria for the valuation of foreign currency balances. A procedure used to calculate the exchange rate, in pesetas, of property assets that at present or in origin have been expressed in foreign currency. Criteria for accounting for change differences. n) Revenue and expense; indicating the following: Criteria used for determining the results. Realization Percentage Method, or Contract method met. System of evaluation of the production of the period, differentiating between certification and production. o) Work performed pending certification; indicating the assessment criteria and performing a description of the estimation method used. p) Works in course of execution; resenting the criteria used, bases and systematics of their application. Determination and assessment of direct costs. Imputation of indirect costs and redemptions. Criteria for cost imputation to overhead costs. g) Construction sector specific traffic visions; indicating the accounting criterion and making a general description of the method of estimation and calculation of the risks covered. 7. Tangible fixed assets. -7.1 Analysis of movement during the exercise of each item of the Balance sheet included in this item and its corresponding accumulated redemptions and provisions; indicating the following: Initial balance. Entries or envelopes. Increases by transfers or transfers from another account. Outputs, casualties, or reductions. Decreases by transfers or transfers to another account. Final Balance. When updates are made, it must be indicated: Law that authorizes it. Amount of revaluation for each item, as well as the increase in accumulated amortization. Effect of the update on the allocation to amortisation and, therefore, on the outcome of the next financial year. 7.2 Information about: Amount of net revaluations accumulated at the end of the financial year, carried out under a law and the effect of those revaluations on the allocation to the depreciation and the provisions in the financial year. Amortization coefficients used by item groups. Characteristics of investments in tangible fixed assets acquired from Group and associated companies, with an indication of their book value and the corresponding accumulated depreciation. Characteristics of investments in tangible fixed assets located outside the Spanish territory, with an indication of their book value and the corresponding accumulated depreciation. Amount of interest and exchange differences capitalized on the financial year. Characteristics of the fixed assets did not directly affect the holding, indicating its book value and the corresponding accumulated depreciation. Amount and characteristics of fully amortized, technically obsolete or unused assets. Goods affected by guarantees and reversion. Grants and donations received related to the fixed assets. Firm commitments to purchase and predictable sources of financing, as well as firm commitments to sell. Detail of the stock of real estate acquired by credit collection, as well as the mortgage loans that are taxed by these assets or subrogable mortgages affected by the real estate. Any other circumstance of a substantive nature affecting property of the fixed assets such as: Leases, insurance, litigation, liens and similar situations. 9. Commercial credits-Information about: A breakdown of the customer account, differentiating the national and foreign client balances. National Customers Detail: Public sector: State, Autonomous Communities, Councils, Autonomous Bodies and Public Enterprises. The age of the sector's balances. Private sector. The amount of effects discounted in the financial year. Risk of the discounted effects of the exercise. Company's total bank risk and available risk at the end of the financial year. 10. Stocks. -Information about: Firm buying and selling commitments, as well as information on future contracts relating to stocks. Limitations on the availability of stocks by guarantees, pignorations, bonds and other similar reasons, indicating the items to which they affect and their temporary projection. Amount of stocks that are listed in the Asset by a fixed amount. Amount and characteristics of the initial project or project and ancillary work costs. Amount of the work in progress, according to the classification of the Annex. Any other substantive circumstances affecting the ownership, availability or valuation of stocks, such as: Litigation, insurance, liens, etc. 11. Own funds. 11.1 Analysis of the movement during the exercise of each balance sheet item included in this pool; indicating the origins of the increases and the causes of the decreases, as well as the initial and final balances. The movement of the epigraps of their own actions will also be included. 11.2 Information about: Number of shares and nominal value of each of them, distinguishing by classes of shares, as well as the rights granted to them and the restrictions they may have. Also, where appropriate, the outstanding disbursements as well as the date of enforceability shall be indicated for each class of shares. Capital increase in progress, indicating the number of shares to subscribe, their nominal value, the issue premium, the initial disbursement, the rights they will incorporate and restrictions they will have, as well as the existence of Preferred subscription rights in favour of shareholders or debenture holders, and the time allowed for the subscription. Amount of capital authorized by the shareholders ' meeting to be put into circulation by the directors, indicating the period to which the authorization is extended. Rights incorporated into the founder's parties, enjoyment bonds, convertible bonds and similar financial liabilities, with an indication of their number and the extent of the rights they confer. Specific Circumstances that restrict the availability of reservations. Number, nominal value and average purchase price of the Company's own shares held by the Company or of a third party on behalf of the Company, specifying its intended final destination and the amount of the reserve by acquisition of own actions. The number, nominal value and amount of the reserve corresponding to the own shares accepted as collateral shall also be reported. The share of capital that, if any, is owned by another Company, directly or through its subsidiaries, when it is equal to or greater than 10 per 100. Shares of the Company admitted to trading. 12. Grants. Information on the amount and characteristics of the grants received that appear in the corresponding items in the Balance Sheet and the Profit and Loss Account. Information on compliance and non-compliance with the conditions attached to the grants. 13. Provisions for pensions and similar obligations. 13.1 Analysis of the movement of this balance sheet item during the financial year, distinguishing provisions relating to assets and liabilities, indicating: Initial balance. Envelopes, distinguishing from their origin (financial expenses, staff costs, ...). Applications. Final Balance. 13.2 Information about: Risks covered. Capitalization type used. 14. Other provisions of group 1.14.1 Analysis of the movement of each balance sheet item during the financial year; indicating: Initial balance. Envelopes. Applications. Final Balance. 14.2 Information about risks and expenses covered. 15. Non-commercial debents.15.1 Breakdown of item D. IV. 2 of the Balance Sheet, Breakdown of items E. III.1 and E. III.2 of the Balance Sheet, 15.2 Information, distinguishing between short and long term, about: Amount of debts that are due in each of the five years following the end of the financial year and up to its cancellation, distinguishing by group companies, associates and others. These particulars shall be shown separately for each of the debt items in accordance with the Balance Sheet model. Amount of debts with collateral. Breakdown of foreign currency debts according to the currency types in which they are contracted and, where applicable, coverage of differences of exchange, distinguishing by group companies, associates and others. Average interest rate on non-commercial long-term debts. Amount available on discount lines, as well as credit policies granted to the Company with their respective limits, specifying the willing part. Amount of accrued and unpaid financial expenses. Detail of bonds and bonds in circulation at the end of the financial year, indicating the main characteristics of each one (interest, maturities, guarantees, convertibility conditions, etc.). 16. Tax situation-Explanation of the difference between the accounting result of the financial year and the tax result. RECONCILIATION OF THE RESULT TO THE CORPORATE TAX BASE Exercise accounting result ............... (MODEL OMITTED) In addition, the following information must be indicated: The difference between the tax burden charged to the financial year and the previous years and the tax burden already paid or to be paid for those exercises, in so far as that difference has a certain interest in respect of the future tax burden. This difference must be broken down, distinguishing between advance tax and deferred tax. The differences that occur between the accounting valuation and the one that would correspond to exceptional value corrections of the assets of the fixed assets and the working assets that are due solely to the application of the tax legislation, duly justified. Taxable negative bases pending tax compensation, indicating the time and conditions to be able to do so. Nature and amount of tax incentives applied during the financial year, such as deductions and reliefs to investment, job creation, etc., as well as to deduct. Commitments acquired in relation to tax incentives. Information on the tax situation of temporary joint ventures. Any other substantive circumstances in relation to the tax situation. 17. Guarantees committed to third parties and other contingent liabilities. Global amount of guarantees committed with third parties, as well as the amount of those included in the Balance Sheet. This information shall be broken down by class of guarantees and distinguishing those related to Group Companies, Associates and others. Nature of the contingencies, system of assessment of the estimation and factors of which it depends, with indication of the eventual effects on the patrimony and on the results; if any, the reasons that prevent it will be indicated assessment, as well as the existing maximum and minimum risks. Guarantees; with indication of the related responsibilities, committed to the temporary unions of Companies. 18. Revenue and expenditure. 18.1 Breakdown of items 2.a and 2.b of the Loss and Profit Account, Breakdown of Item 3.b of the Loss and Profit Account Breakdown of Item 5.b of the Loss and Profit Account In the event that the Company formulates the Abbreviated Loss Account and Earnings Account, it shall include in this paragraph the breakdowns indicated above in relation to items 1. , 2.b 18.2 Information about: Transactions made with Group Companies and associated by detailing the following: Purchases made, purchases returns, and Sales made and sales returns. Services received and provided. Jobs performed by subcontractors. Interest paid and loaded. Dividends and other distributed profits. Transactions made in foreign currency, with separate indication of purchases, sales and services received and provided. The distribution of the net amount of the turnover corresponding to the Company's ordinary activities, by categories of activities, in accordance with Royal Decree 1560/1992 of 18 December, on which the Classification is approved National of Economic Activities (CNAE), as well as geographic markets differentiating between national, foreign and Autonomous Communities. The omission of the information required at this point must be justified where it is liable to cause serious damage to the Company. Amount of the part of the business figure that corresponds to the main contractor and subcontractor. Classification of the amount of sales and other income according to the typology of works that is incorporated in the Annex. Classification of the amount of sales and other income made to the State, Autonomous Communities, Councils, Companies and individuals. Average number of persons employed in the course of the financial year, distributed by category, distinguishing between fixed and eventual staff. Amount of works performed by subcontractors classified according to the typology of the works listed in the Annex. Extraordinary expenses and revenues, including income and expenses for previous years. Expenses and revenues that, having been accounted for during the financial year, correspond to a later one. Expenditure and revenue charged to the financial year to be satisfied in a subsequent year. Classification, by activities, of the turnover. Amount of the executed work to be certified. Amount of solar and land disposal. 19. Other information. -Information about: Amount of salaries, allowances and remuneration of any kind accrued in the course of the financial year by the members of the administrative body, whatever their cause. This information shall be given in a comprehensive manner by means of remuneration. The amount of advances and credits granted to all members of the administrative body, indicating the interest rate, essential characteristics and amounts returned, as well as the obligations, shall be broken down. taken on behalf of them as a guarantee. Amount of pension and life insurance obligations to the former and current members of the administrative body. This information shall be given in a comprehensive manner and with separation of the benefits in question. Operations in which there is some type of guarantee, indicating the assets affected to them even in the case of liquid availabilities, indicating, in this case, the existing limitations of availability. 20. Post-closure events-Supplementary information on events occurring after closure that do not affect the annual accounts to that date, but whose knowledge is useful to the user in the financial statements. Additional information on events occurring after the closure of the annual accounts affecting the implementation of the operating business principle. 21. Temporary unions of Businesss.1. Information about each temporary union of Companies in which you participate, indicating: Valuation criteria used by the temporary join. Percentage of participation that is owned by each temporary union. 2. Relationship of temporary joins of Companies in which you participate, indicating: Global business figure. Work contracted or committed by the temporary union. Separate mention of national and foreign works. The omission of the information required at this point should be justified where, by its nature, it may cause serious damage to the Company. 3. Information on the way in which the construction company has carried out the integration of the operations of the temporary unions of companies in which it participates. 22. Order book. Order portfolio breakdown by differentiating the ongoing contracts from the start up, indicating the invoiced work and the pending completion. Breakdown of the order book by type of works, according to the classification of the annex. Detail by country, in the work to be executed abroad, and by Autonomous Communities for the work contracted in Spain. 23. Table of financing-The financial resources obtained in the financial year are described, as well as their implementation or use and the effect of such operations on working capital. For these purposes, the accompanying model must be completed. (MODEL OMITTED) ANNEX Typology of the works Building: Permanent, separate and independent construction. Residential Building: Construction designed to be used as a family home or coleciva. Non-residential construction: Construction of buildings for agricultural, industrial, service delivery or, in general, for the development of an activity. Civil engineering: Work of infrastructure other than building, destined to be used collectively or publicly. Infrastructure is understood as the necessary constructions to make the economic and social activities of a community feasible. a) Roads, streets, airports, runways, surface parking and the like, even lighting and signage. (b) Power production and transformation plants, including hydraulic infrastructure and transport and distribution lines. Telecommunications facilities. c) Surface and underground rail infrastructure and related structures, including lighting, electrification, signalling, tunnels, bridges and freight stations and travellers. d) Ports and navigation channels: Funds, port beds, docks, malecons, levees, breakwaters, escorts, jetties, etc. e) Gas pipelines, pipelines and gas supply networks. Encauzations and defenses. Irrigation works, including dams, canals and soil conditioning, drinking water supply, collection, storage, treatment station, distribution network and sanitation works (including sewerage, collectors, etc.) and stations waste water treatment plants. f) Other works. The value of the demolition works, which have not been included in the value of the previous headings, the polideportive stadiums, tracks, swimming pools, parks, gardens, artificial lakes and other sports or leisure facilities are collected. Other public works and civil engineering works not classified elsewhere are also included in this column. (III. MODELS OF ABBREVIATED ANNUAL ACCOUNTS OMITTED) ABBREVIATED MEMORY Abbreviated Memory Content 4. Valuation rules.-The accounting criteria applied for the following items shall be indicated: (a) Establishment expenses; indicating the criteria used for capitalization, depreciation and, where applicable, sanitation. (b) Intangible fixed assets; indicating the criteria used for capitalization, depreciation, provisions and, where applicable, sanitation. Justification, if any, for the amortisation of the goodwill over a period of more than five years. In addition, the criteria for accounting for leasing contracts will be specified. c) Fixed material, indicating the criteria for: Amortization and provision of provisions. Capitalization of interest and exchange differences. Accounting for extension, modernization, and improvement costs. Determination of the cost of the work done by the Company for its fixed assets. The items of the fixed assets held in the Asset for a fixed amount. Value updates practiced under a law. (d) marketable securities and other similar financial investments, distinguishing in the short and long term; indicating the valuation criteria and, in particular, specifying the criteria for valuation corrections. e) Non-commercial credits, distinguishing in the short and long term; indicating the criteria for valuation and, in particular, specifying those followed in the valuation corrections and, where applicable, the accrual of interest. (f) Stocks; indicating the valuation criteria and, in particular, specifying the criteria for valuation corrections. In addition, the criteria for the valuation of the items in the Asset for a fixed amount shall be specified. g) Own shares held by the Company. h) Grants; indicating the criterion of imputation to results. i) Provisions for pensions and similar obligations; indicating the accounting criterion and carrying out a general description of the method of estimation and calculation of each of the risks covered. (j) Other provisions of Group 1; indicating the accounting criterion and making a general description of the method of estimation and calculation of the risks or expenses included in those provisions. k) Debts, distinguishing in short and long term; indicating the valuation criteria, as well as the imputation of the results of the interest or deferred premiums. l) Profit tax; indicating the criteria used for accounting. m) Foreign currency transactions; indicating the following: Criteria for the valuation of foreign currency balances. A procedure used to calculate the exchange rate, in pesetas, of property assets that at present or in origin have been expressed in foreign currency. Criteria for accounting for change differences. n) Revenue and expense; indicating the following: Criteria used for determining results: Realization Percentage Method, or Contract method met. System of evaluation of the production of the period, differentiating between certification and production. o) Work performed pending certification; indicating the assessment criteria and performing a description of the estimation method used. p) Works in course of execution; resenting the criteria used, bases and systematics of their application: Determination and assessment of direct costs. Imputation of indirect costs and redemptions. Criterion for cost imputation to overhead costs. q) Construction sector specific traffic visions; indicating the accounting criterion and making a general description of the method of estimation and calculation of the risks covered. PART QUINTA Valuation Rules Note: Only those valuation rules that have been the subject of some modification, as well as those whose contents coincide with those of the General Accounting Plan, are included, although their numbering varies. 3. Special rules on tangible fixed assets In particular, the rules that are expressed with respect to the goods that are indicated in each case shall apply: (a) Unbuilt Solares.-The purchase price shall include the costs of packaging such as closures, movement of land, drainage and drainage works, as well as the demolition of buildings where necessary for be able to carry out works of a new plant; and also the costs of inspection and lifting of plans when carried out with character prior to its acquisition. (b) Constructions. -They will be part of their purchase price or production cost, in addition to all those facilities and elements that have a permanent character, the fees inherent in the construction and the fees Project and direction of work. The value of the land and the buildings and other buildings must be shown separately. (c) Technical installations, machinery and tools. -Your assessment shall include all costs of purchase, manufacture and construction until it is put into operation. (d) Utensils, tools and auxiliary means, incorporated into mechanical elements, shall be subject to the valuation and depreciation rules applicable to such items. In general, utensils and tools which are not part of a machine and auxiliary materials for which the period of use is estimated not exceeding one year must be charged as expenditure for the financial year. If the period of their use is greater than one year, it is recommended, for reasons of operational ease, the annual regularisation procedure, by means of a physical account; acquisitions shall be debited from the fixed assets account, at the end of the financial year, on the basis of the inventory taken, with a reasonable reduction by demerit. The templates, formwork and moulds used, on a permanent basis, in series fabrications must be part of the fixed material, calculating their depreciation according to the useful life period. The moulds and formwork used for isolated fabrications must not be considered as inventorable. (e) The costs incurred during the financial year in respect of the works and works which the Company carries out for itself shall be charged to the accounts corresponding to Group 6. The accounts of sub-group 22 and the end of year accounts 230/237 shall be charged for the amount of such expenditure, with a subscription to the accounts of the sub-group 73. (f) The costs of renewal, extension or improvement of tangible fixed assets shall be incorporated into the asset as a higher value of the asset as they result in an increase in their capacity, productivity or elongation of their assets. useful life and whenever it is possible to know or estimate reasonably the net book value of the items which, because they have been replaced, must be discharged from the inventory. g) In exceptional cases, certain tangible fixed assets may be valued for a fixed amount and value, if they meet the following conditions: Your overall value and composition will not vary significantly, and That such a global value is of secondary importance to enterprises. The application of this system will be specified in the Memory, basing its application and the amount that this amount and fixed value means. (h) The machinery of works located outside the country, and without the intention of being transported back to the national territory, shall be amortised, in accordance with the general criteria, in the intended period of duration of the work and works for which it was allocated, taking into account, for the purpose of calculating the depreciation, the residual value which it is estimated to have after completion of the works. 12. Customers, suppliers, subcontractors, debtors and traffic creditors Figure in the Balance sheet at face value. Interest on the nominal amount of credit and debits for traffic operations with a maturity of more than one year shall be recorded in the Balance Sheet as The valuation corrections to be made shall be made, with the corresponding provisions, where appropriate, provided for the risk of any insolvencies arising from the recovery of the assets in question. It is particularly applicable to the particular case of reformation, additions and modifications. 13. Stocks 1. Valuation.-Goods included in stocks should be valued at the purchase price or production cost. 2. Purchase price. The purchase price shall include the invoice entry plus any additional costs incurred until the goods are in storage, such as transport, customs, insurance, etc. The amount of indirect taxes levied on the acquisition of stocks shall be included in the purchase price only if that amount is not directly recoverable from the public finances. 3. Production cost. The cost of production will be determined by adding to the purchase price of the materials and other consumables the costs directly attributable to the work. The proportion which reasonably corresponds to the costs indirectly attributable to the work in question must also be added to the extent that these costs correspond to the construction period. 4. Value adjustments. -Where the market value of a good or any other value corresponding to it is lower than its purchase price or production cost, it shall make value adjustments, giving the relevant provision when the depreciation is reversible. If the depreciation is irreversible, this shall be taken into account when assessing stocks. It is particularly applicable to the particular case that amounts corresponding to reform, additions and changes in works are included in the existing stocks. For the purposes of performing the valuation corrections, market value shall be understood as: a) For the materials, their replacement price or the net carrying value if they were less. (b) For commercial stocks and finished works, their carrying value, deducted from the corresponding marketing costs. (c) For the products and works in progress, the value of the production of the finished products and finished works, deducted the total costs to be incurred and the marketing costs. However, the goods which have been the subject of a contract for sale on a firm whose fulfilment must subsequently take place shall not be the subject of the assessment referred to in the preceding paragraph, provided that the the sale price stipulated in that contract covers, at least, the purchase price or the cost of production of such goods, plus all the costs to be incurred for the performance of the contract. In the case of goods whose purchase price or production cost is not individually identifiable, the average price or weighted average cost method shall be adopted in general. The FIFO, LIFO or other analogue methods are acceptable and can be adopted if the Company considers them to be more appropriate for their management. In exceptional cases, certain materials and storage elements may be valued for a fixed amount and value, if they meet the following conditions: a) That they are constantly renewed. b) That its overall value and composition do not vary significantly, and c) That such global value is of secondary importance to the Company. The application of this system will be specified in the Memory, basing its application and the amount that this amount and fixed value means. 5. Particular rules of stock. -In particular, the rules that are expressed in respect of the goods, works and rights that are indicated in each case shall apply: a) Auxiliary works for execution of works: General and specific installations: The work or works with which they are directly related will be charged during the period. This imputation shall be carried out linearly in the period of duration of the work or in proportion to the ratio between costs incurred and total expected costs of work. Withdrawal, works settlement and other expenses: They will be valued according to the best possible estimate, being charged in the same way as stated in the previous paragraph for general and specific installations. (b) Goods received for the recovery of claims. -They shall be valued for the amount by which the credit corresponding to the good received is included in the accounts, plus all the expenses incurred as a result of this transaction, or the market price if this is lower. The goods received for the collection of credits that are in the course of execution shall be counted as work in progress. If they are then decided to include them in the fixed assets, they will be incorporated through the subgroup 73. In this case, the expenditure incurred until the end of the year shall be charged to the accounts corresponding to Group 6 and to the end of the financial year shall also be incorporated into the fixed assets through sub-group 73. In the event that the goods received for the collection of credits are goods produced by the Company, the incorporation of the assets to the Asset of the same will be carried out by the cost of production. (c) Initial project or project costs. -Initial preliminary or project costs, prior to the project award, will be assessed for the actual costs incurred, until the project has been or is not known. awarded. If they are not, they shall be charged to the results of the financial year and, if so, shall be charged in accordance with the provisions of subparagraph (a) above for general and specific installations. 14. Foreign currency exchange differences 1. Tangible and intangible fixed assets. -As a general rule, their conversion into national currency shall be made by applying to the purchase price or production cost the exchange rate in force on the date on which the assets were incorporated into the assets. Depreciation and depreciation provisions should be calculated, as a general rule, on the amount resulting from the application of the preceding paragraph. 2. Stocks. -Their conversion into national currency shall be made by applying to the purchase price or production cost the exchange rate in force on the date of each acquisition, and this valuation shall be the one used if the acquisition is applied. a specific identification method for the valuation of stocks, as if the weighted average price, FIFO, LIFO or similar methods are applied. Provision should be made when the valuation thus obtained exceeds the price that stocks have on the market at the date of the closing of the accounts. If such a market price is fixed in foreign currency, the exchange rate in force at that date shall apply for conversion into national currency. 3. Variable income securities. -Their conversion into national currency shall be made by applying to the acquisition price the exchange rate prevailing on the date on which those securities were incorporated into the equity. The valuation thus obtained may not exceed the value of the exchange rate in force at the closing date, at the value of the securities on the market. 4. Treasury. The conversion into national currency of the foreign currency and other liquid assets held by the Company shall be made by applying the exchange rate in force at the date of incorporation into the assets. At the end of the financial year they shall appear in the Balance Sheet at the exchange rate in force at that time. If, as a result of this assessment, a negative or positive change difference is found, the result of the exercise will be charged or paid respectively. 5. Fixed income, credit and debt securities.-The conversion into national currency of fixed income securities, as well as foreign currency credits and debits, shall be carried out in accordance with the exchange rate in force at the date of the operation. At the end of the financial year, the exchange rate shall be valued at that time. In cases of change coverage (change insurance or similar coverage) the risk portion shall be considered as not covered only. The positive or negative exchange differences of each value, debit or credit shall be classified according to the maturity and the currency. For these purposes, those currencies which, although different, will have official convertibility in Spain will be grouped together: a) Unrealized positive differences occurring in each group, as a general rule, will not be integrated into the results and will be collected in the Balance Sheet as b) On the contrary, the negative differences that occur in each group, as a general rule, will be attributed to results. However, unrealised positive differences may be achieved when, for each homogeneous group, results have been attributed to results in previous years or in the exercise itself, negative differences of change, and the amount that would result from undermining those negative differences due to the positive differences recognised in the results of previous years. Positive differences deferred in previous years will be attributed to results in the exercise that sell or cancel in advance the corresponding fixed income, credit and debt securities or to the extent that They shall recognise differences in negative change equally or higher in each homogeneous group. 6. Special rules.-By application of the principle of the purchase price, foreign exchange differences should not be considered as rectifications of the purchase price or the cost of production of the fixed assets. However, where differences in exchange occur in foreign currency debts over a period of more than one year and are intended for the specific financing of the fixed assets, it may be possible to incorporate the potential loss or gain as a greater or lower cost of the corresponding Assets, provided that each and every one of the following conditions is met: That the debt-generating debt has been used unequivocally to acquire a specific and perfectly identifiable fixed asset. That the period of installation of said fixed assets is greater than twelve months. That the change in the exchange rate occurs before the immobilized is in operating conditions. That the amount resulting from the addition to the cost does not exceed, in any case, the market value or the replacement of the fixed assets. Capitalized amounts in accordance with this option will be considered to be one more element of the cost of the material immobilized and therefore be are subject to amortization and provision, if any. 7. Currency not convertible. -In the case of work abroad, in the case of transactions that are carried out in non-convertible currency, they shall be recorded at the exchange rate in force at the date of the operation. At the end of the financial year, the difference between the non-convertible currency payment obligations and the cash sum plus the accounts receivable in that currency shall be calculated; in the event that such a difference (the lending position) is positive, the This figure shall be converted to the exchange rate of the date of the end of the financial year, with the corresponding change in accordance with the general procedure referred to in the preceding paragraphs. In the event that the difference between payment obligations in the non-convertible currency and the cash sum plus the accounts receivable in that currency is negative (debtor position), a provision shall be made for the amount of that currency. difference, unless the non-convertible currency resulting from the liquidation of the work is to be used in goods with the possibility of repatriation or is intended to be used in future works within the relevant country. In any case, these circumstances will have to be reflected in the Memory. 18. Sales, revenue by work executed and other revenue For the accounting of sales or revenue by executed work, the following shall be taken into account: (a) Works made on a contract basis. -They will be valued by the method of the percentage of realization, by this method will be recognized the income by work executed on the basis of the degree of realization of the contract at the end of each accounting period. The determination of revenue by this method can be performed by the following two procedures: By valuing the units of work executed at the prices set out in contract. Depending on a percentage of the total revenue fixed in the contract, a percentage that is established by the ratio between the costs incurred to the date and the total costs foreseen for the performance of the contract. In any case, according to the principle of uniformity, chosen an alternative, it should be used for all the works, whether they are short or long term. For the application of the method of the percentage of realization it will be necessary to have two indispensable conditions; if any of them are not fulfilled, it will necessarily be reflected in Memory: That you have the means and control to be able to make reasonable and reliable estimates of the budgets of the contracts, as well as of the income, costs and degree of termination at a given time. That there are no abnormal or extraordinary risks in the development of the project, no doubt about the acceptability of the order or order from the client. If the above conditions are not met, the method of the percentage of realization cannot be applied and, exclusively for the works in which this circumstance is based, the method of the procedure will be used, based on the principle of prudence. Contract fulfilled. By the method of the contract fulfilled, the income per work executed shall be recognized once the works and works carried out on behalf of the contract, are substantially finished, have been delivered to the client or have been accepted by the latter. For these purposes, the works and works shall be understood to be substantially completed when the expected costs, pending completion of the work, are not significant, apart from those of guarantee and conservation until delivery. The assessment of the work in progress, applicable when the method of the completed contract is followed, shall be carried out in particular by applying the following rules: The costs incurred by the contractor prior to the formalisation of the contract will be part of the work in progress provided that: Be identified with the project in question, and There are no reasonable doubts about the award of the project to the contractor. Costs directly related to each specific contract will be charged to the work in progress, including: The personnel costs assigned to the work, including transportation to the workplace. The materials used in the construction, including transportation costs incurred in their case. The depreciation and transportation costs of equipment and facilities used in the execution of the work. The costs of monitoring, supplies, etc., directly related to the work. The costs incurred in auxiliary work specific to the work. The work in progress will also be attributed to the part of indirect construction costs related to various contracts, following a system of distribution that is appropriate to the circumstances. These costs include: Those relating to general facilities affected by the construction activity, such as warehouses, technical offices, etc. Insurance. Technical assistance. When part of one or more works is subcontracted to third parties, the amounts invoiced by the subcontractor will be considered as the greatest value of the work in progress. In the works performed by contract and contract, for the works that are carried out without being collected in the contract, such as reformed, added and modifications of work, the income will be recorded by the same method as the used in the main work, provided that there is no doubt about its subsequent approval and its technical rationality is accredited. In these cases, the following information will be collected in the corresponding section of the Report: for the case that the income produced by the reformed, added and modified works is recorded contably by means of the percentage of performance, the amount of revenue entered in the financial year and the costs incurred by those concepts shall be reported; if the method of contract is applied, the amount of work in progress shall be reported corresponding to reformed, added and modifications of the work. (b) Works made out of order or contract and for sale thereafter. -In this case, the revenue will be recorded once the actual transmission of the goods under construction takes place, according to the the conditions of sale, recording, where appropriate, the expected costs for the completion of the work already sold. This shall be without prejudice to the provisions of the last subparagraph of paragraph (a) above. For the purposes of determining the number of sales or revenue per work performed, unit of work shall mean the homogeneous and concrete portion of each of the material parts necessary for the execution of a work, in which the main elements which may be partially or jointly involved in their production (labour, materials and auxiliary means) are measurable by physical units, as they may be: the time employed by skilled workers in the trades in works of medium characteristics and under appropriate working conditions; quantities of materials employees of quality and performance, and the normal working time of the machinery and auxiliary means employed. The result of valuing these units by the unit prices of the factors of production gives us the unit price. Accounting for sales will also take into account the following rules: a) Sales will be accounted for without including the taxes that are taxed on these transactions. The costs incurred by the undertaking, including the transport of the undertaking by the undertaking, shall be entered in the accounts of group 6, subject to the following rules. (b) Discounts and similar items included in invoices that do not comply with the payment will be considered as the lower amount of the sale. (c) The discounts and the like that are granted by the Company for early payment, whether or not included in the invoice, will be considered as financial expenses, accounting for 665. (d) Discounts and similar post-issuance of the invoice originating from quality defects, non-compliance with delivery times or other similar causes shall be accounted for in account 708. In the accounting of revenue by services, rules a) to d). In the accounting of the profits from the disposal of fixed assets or temporary financial investments, the expenses inherent in the operation shall be included with a lower amount of the same. 21. Temporary Business Unions 1. The temporary unions of undertakings shall, in accordance with the general rules, follow the method of the percentage of performance for the recognition of the results. Only in the specific cases that are raised in Standard 18. by way of derogation, the method of the fulfilled contract may be used. With respect to other possible valuation criteria, except those listed in the previous paragraph, temporary unions will have to follow the criteria used by the Company that has a higher share in the company itself. UTE. 2. For the integration and accounting of the operations performed by the temporary unions of Companies in the companies that constitute them, the following criterion will be followed: (a) Balance sheet of the temporary union. -Each company participating in the temporary union shall, in its balance sheet, integrate the proportional share of the balances of the balance sheet items of the temporary union corresponding to its percentage. of participation. This inclusion will take place after the necessary temporary homogenization, taking into account the date of closure and the economic exercise of the Company, the value homogenization in the event that the temporary union has used valuative criteria other than employees by the Company, and the reconciliations and reclassifications of necessary items. The unrealized results that could exist for transactions between the Company and the temporary union should be eliminated, in proportion to the share corresponding to that. Reciprocal assets and liabilities shall also be disposed of. b) Temporary Union Profit and Loss Account. -Each company participating in the temporary union will integrate into its Loss and Earnings Account the proportional share of the items in the Loss and Earnings Account of the temporary union corresponding to its share of participation, once the homogenizations and eliminations of results referred to in point (a) above have been carried out. Reciprocal revenue and expenditure shall also be disposed of. 22. Changes in accounting criteria and estimates For the application of the principle of uniformity, the criteria for accounting for one year to another shall not be altered, except in exceptional cases which shall be indicated and justified in the Memory and always within the criteria authorized by this text. In these assumptions, the change shall be deemed to occur at the beginning of the financial year and shall be included as extraordinary results in the Loss and Earnings Account with the cumulative effect of the changes in assets and liabilities, calculated at that date, which are a consequence of the change of criteria. Changes in those items that require for their assessment to make estimates and which are a consequence of obtaining additional information, greater experience or knowledge of new facts, should not be considered for the purposes referred to in the preceding paragraph as changes in accounting criteria. 23. Generally accepted accounting principles and standards Generally accepted accounting principles and rules will be considered in: (a) The Trade Code and the remaining commercial law. b) The General Accounting Plan and its sectoral adaptations. (c) Implementing rules which, in accounting matters, establish, where appropriate, the Accounting and Audit Institute of Accounts, and (d) Other legislation that is specifically applicable.
