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Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article "Accounting for Cryptocurrencies: Fair Value or Acquisition Cost" proposes an accounting treatment for different cryptocurrencies in the absence of regulations from the ICAC. It discusses how they should be recorded depending on whether they are part of the operating inventory or investment assets. It is recommended to value cryptocurrencies at their fair value and record changes in the income statement. Additionally, the importance of considering volatility and manipulation in the cryptocurrency market when choosing the appropriate valuation method is highlighted. It is concluded that it is crucial to select the appropriate valuation method according to the nature and purpose of each digital asset. [Extracted from the article]

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In May 2023, the International Financial Reporting Standards Foundation (IFRS) has made several important decisions. A moratorium on the application of IAS 12 on global taxation has been published, as well as modifications to IAS 7 and IFRS 7 to improve information on supply chain financing arrangements. A Request for Information on credit impairment has also been launched. The IASB has addressed issues related to financial instruments, transaction accounting, and financial statements, and has ratified modifications to SASB standards to align with the Implementation Guide of IFRS S2. Projects on dynamic risk management and financial instruments with equity characteristics have also been addressed. The IASB has proposed amendments to the Accounting Standard on Subsidiaries, which include disclosures on instruments with equity and liability characteristics, terms and conditions, and classification of financial instruments. A draft on these changes is expected to be published. Three topics related to accounting for groups of companies were discussed at this meeting. The IASB recommends maintaining the requirement to annually test the impairment of Cash Generating Units that contain goodwill. Different approaches to address the issues limiting the effectiveness of the impairment test were also analyzed. The risks of managers' optimism when estimating future cash flows and the protective effect of goodwill self-generated by the acquirer's Cash Generating Units were mentioned. Measures to reduce excessive optimism were proposed, and the possibility of estimating implicit goodwill was discussed. The article reports on the main decisions made by the standard-setting and interpretation bodies of the International Financial Reporting Standards Foundation (IFRS) in May 2023. The IASB concludes that the requirements of IAS 36 should not be modified, as the proposals do not offer clear advantages in terms of effectiveness. Different proposals for measuring goodwill impairment are presented, but none are considered favorable. In addition, issues related to disclosures in the financial statements of subsidiaries are discussed, and decisions on the primary financial statements and management report are analyzed. The IASB also approves the issuance of a Request for Information on IFRS 15 and reviews the project on assets and liabilities for regulated activities. The article presents several decisions made by the IASB in May 2023. It is mentioned that the reporting period can be annual or interim, and this decision is important when items are expressed in foreign currency. Decisions on maintenance and consistent application issues, derecognition of lease liabilities, disclosure of deferred differences between fair value and transaction price, and supply chain financing arrangements are also discussed. Additionally, the modification of IAS 12 Income Taxes and the publication of a Request for Information on credit impairment are mentioned. The article also highlights the speech of the IFRS Foundation President at the annual Congress of the European Accounting Association, where the importance of IFRS, sustainability, and the role of academia in issuing accounting standards were discussed. [Extracted from the article]

The article analyzes the accounting and tax regime of non-monetary contributions made by legal entities, as well as the deferral of capital gains obtained from these contributions. It mentions that there are objective, subjective, and formal requirements for the application of this special regime. The article also details who should make the communication, the deadline to do so, and to whom the communication is addressed. In addition, it mentions the corporate operations that can benefit from the special tax regime, such as mergers, spin-offs, and non-monetary contributions. The requirements for non-monetary contributions made by legal entities and individuals are also specified. The article deals with the actions of verification by the tax administration in relation to the special tax regime. These actions often generate discrepancies between the administration and taxpayers, and often result in settlements signed in disagreement. Taxpayers often make binding inquiries to the Tax Administration to determine if a commercial operation can benefit from the special regime and if the economic motive is valid. In summary, operations subject to the special regime must be supported by valid and justified economic reasons before the tax inspection. The article deals with the accounting and tax repercussions in the company ROCK SA due to a capital increase and the receipt of land. In the case of differences between the recorded value and the fair value of the received asset, it will be recognized in the account "Share premium or assumption". For the issuance of shares, they are recorded in the account "Issued shares or participations", "Share capital", and "Share premium or assumption". As for the tax consequences, the contributed lands will have a tax value of 1,000,000 euros, and different scenarios of share and land transfers between the companies ROCK SA and MAC SA are considered. The article deals with the accounting and tax consequences of the transfer of land by the company ROCK SA. The accounts and amounts involved in the transaction are detailed. In addition, it is mentioned that the transfer of shares of the company MAC SA before the transfer of the land has generated double taxation. It is explained that ROCK SA can make a negative adjustment in its taxable base to avoid this double taxation. The tax and legal implications of the operation regarding VAT and the tax on property transfers and document legal acts are also mentioned. The article deals with the practical application of the accounting and tax regime of non-monetary contributions made by legal entities regulated in article 87 of the LIS. The obligation to communicate restructuring operations to the tax administration is mentioned, and a deadline is established to do so. In addition, the information that must be included in the memory of the acquiring entity in corporate restructuring operations is detailed. Non-compliance with these obligations can result in economic sanctions. [Extracted from the article]

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article presents a practical case on the calculation and accounting of the theoretical accounting value of a preferential subscription right according to the portfolio in which it is classified. The different scenarios that may arise in a capital increase are explained, and the definition and nomenclature used in the calculation are provided. In addition, different accounting scenarios are proposed according to the classification of the investment. The article is written by Gregorio Labatut Serer, Ignacio Aguilar Jara, and Elena Márquez Calvo and was published in the journal Técnica Contable y Financiera. The article deals with the calculation of the ex ante value of shares or social participations before a capital increase. It is established that the fair value will be the stock market quotation immediately prior to the start of the period to exercise the preferential subscription right or free allocation. In the absence of a quotation, the theoretical accounting value corrected by implicit gains or losses will be taken. The calculation of the theoretical value of the preferential subscription right or free allocation is also mentioned, which is the difference between the ex ante value and the theoretical ex post value of the shares or social participations. In addition, it explains how to calculate the percentage that the theoretical value of the right represents on the market value of the share and how to apply it to the accounting value of the right. Finally, the quantification of the cost of the preferential subscription right or free allocation is mentioned, which is determined by applying to the accounting value the proportion between the theoretical value of the right and the unit ex ante value of the shares or social participations. The article deals with the application of the Corporate Income Tax Law in relation to the transfer of subscription rights. According to article 10.3 of the law, the positive income derived from this transfer is included in the taxable base and can be exempted by 95% if the requirements established in article 21 of the law are met. The General Directorate of Taxes has maintained this criterion in response to a binding consultation. [Extracted from the article]

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article focuses on the accounting aspects of special purpose acquisition companies (SPACs). It mentions that a SPAC is a company created with the objective of searching for a target operating company and going public. The different types of securities issued by a SPAC are explained, such as founder shares, private placement warrants, public shares, and public warrants. The need for additional funds to finance pre-merger activities is also mentioned. In terms of accounting, the evaluation of the issued instruments and equity-based payments is discussed. The article addresses the role of the sponsor in a SPAC and how the issued instruments should be evaluated. The sponsor provides assistance in the public offering and target company search, and also holds positions in the management and board of the SPAC. When evaluating the instruments, factors such as the fair value of the shares or options, differences in rights compared to publicly issued similar instruments, irrevocability conditions, and economic reality versus legal form should be considered. Different considerations should be made depending on whether the instruments are part of an equity-based payment. Furthermore, the classification of the instruments issued by the SPAC as liabilities instead of equity is discussed. In the case of a merger, the impacts of the equity-based payment standard should be considered, and the consideration is calculated based on the value of the shares that the target company would have to issue to maintain equivalent ownership percentages in the combined entity. The possibility of contingent consideration in the form of share issuance upon achieving certain milestones or results is also mentioned. The article addresses the accounting issues related to business combinations through the creation of a new entity. It mentions that if the agreements reduce the shareholders' ownership in the combined entity, the acquisition cost would decrease, while if it increases, the acquisition cost would increase. It is also mentioned that in some cases, the merger involves the SPAC issuing instruments and making a payment to the target company shareholders in exchange for their ownership in the target company. Additionally, the accounting treatment of the shares and options issued in these transactions is discussed. [Extracted from the article]

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article focuses on accounting and supervision regulations under general accounting plan of Spain. It mentions modifications introduced in IAS-IFRS derived from IFRS 9 on Financial Instruments and IFRS 15 on revenue recognition and complicate difficult fittings between accounting standards. It also mentions fair value measurement with changes in the profit and loss account and sales motivated by increased credit risk.

The article focuses on accounting reform of the PGC, carried out by the ICAC in January 2021 and criterion of fair value less costs to sell has been incorporated into the 10th recording and valuation standard. It mentions exclusively for intermediaries who sell listed raw materials and rules adaptation of the General Accounting Plan to approved non-profit entities by Royal Decree. It also mentions commercialize raw materials listed companies will be able to value their stocks.

The article focuses on the difference between a financial guarantee contract, a loan commitment and other commitments granted at the time of their accounting treatment. It mentions that the entity issuing the contracts will initially recognize them at their fair value, and the fair value of the contracts issued will be the consideration received.

Copyright of Técnica Contable y Financiera is the property of Wolters Kluwer Espana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)