Scheme of the official books and annual accounts:

1.- Book Journal

a) Seat Open.

b) Journal.

c) closing seat.

2.- Book Inventory and Annual Accounts

a) Initial Balance (if you do not collect the first quarterly).

b) Addition and quarterly balances and cumulative balances.

c) inventory, if any.

d) Financial Statements at December 31:

1º - Balance Sheet.

2º - Operating Account.

3º - Statement of Changes in Equity.

4º - cash flow statement (except in "abbreviated model").

5º - Memory (additional information of the above).

These books must be kept for a minimum of 6 years.

The following legal text regarding the legal basis to collect.


Título III

Accounting business


Article 25. [Description and compulsory employer accounting]

1. Every employer shall bear an appropriate to the activity of your company allowing a chronological tracking of all operations, proper accounting and regular production and inventory balances. It necessarily will, subject to the provisions of the laws or special provisions a ledgers and financial statements and another newspaper. (See article 28)

2. Accounting will be taken directly by employers or other persons duly authorized, without prejudice to the responsibility of those. authorization, unless the contrary is deemed granted.

Article 26. [Proceedings Books]

1. Commercial companies also keep a book or books of minutes, which shall contain, at least, all decisions taken by the general and special boards and other corporate bodies of the company, stating the information concerning the call and constitution of the organ, a summary of the issues discussed, interventions which have requested record, the resolutions adopted and the results of voting.

2. Any partner and people who, if any, had attended the general meeting on behalf of non-members present, may obtain certification of the agreements and of the minutes of general meetings at any time.

3. Administrators must be submitted to the commercial register, within the approval of the minutes, notarial testimony of registrable agreements eight days.

Article 27. [Legalization of books]

1. Entrepreneurs will present books that necessarily must carry in the commercial register of the place where domiciled, so before use, put yourself on the first page of each diligence that hath the book and in all sheets each book, seal the registry. In the event of change of address will have full value legalization made by the Registrar of origin.

2. Is valid, however, carrying seats and annotations by any suitable procedure on leaves after shall be bound consecutively to form binding books, which will be legalized later than four months after the date of year end . As the minutes book shall be observed the provisions of the Mercantile Registry Regulations.

3. The provisions of the preceding paragraphs shall apply to the register of registered shares in corporations and joint stock and register of partners in limited liability companies, which may be by electronic means, according to what is available regulations.

4. Each Mercantile Registry shall keep a book of legalizations.

Article 28. [Required Books]

  1. The Book of Inventories and Annual Accounts It will open with detailed initial balance of the company. At least quarterly they were transcribed with amounts and balances trial balances. the year-end inventory and annual accounts are also transcribed.

2. The book Journal will record daily all operations relating to the activity of the company. Is valid, however, the joint annotation totals of operations not exceeding one month, provided that your details appear in other books or records consistent, according to the nature of the activity in question periods.

Article 29. [Requirements ledgers]

1. All books and records must be kept, regardless of the procedure used, clearly, in order of date, gapless, interpolations, erasures or overwriting. They must be saved and then immediately are noticed, errors or omissions suffered in accounting entries. No abbreviations or symbols may not be accurate whose meaning under the law, regulation or commercial practice commonly used application.

2. The accounting entries shall be made expressing the values ​​in pesetas.

Article 30. [Conservation of the books]

1. Entrepreneurs keep books, correspondence, documents and supporting documents concerning their business, duly ordained during six years, From the last entry made in the books, except what is established by general or special provisions.

2. The cessation of the employer in the exercise of their activities does not relieve you of duty the previous paragraph, and if deceased will rest on his heirs. If dissolution of companies, be forced to its settlement comply prevented in that paragraph.

Article 31. [Probative value of the books]

The probative value of the books of entrepreneurs and other records will be appreciated by the courts in accordance with the general rules of law.

Article 32.

1. Accounting of entrepreneurs is secret, without prejudice arising from the provisions of the law.

2. Communication or general recognition of the books, correspondence and other documents of entrepreneurs, can only be decreed ex officio or upon request in cases of universal succession, insolvency, bankruptcies, liquidations of companies or business entities, records employment regulation, as members or legal representatives of the workers are entitled to direct examination.

3. In any case, outside the cases prefixed in the preceding paragraph, may be ordered display of books and documents entrepreneurs parte or ex officio, when the person to whom they belong has an interest or responsibility in the matter where appropriate display. Recognition will contract exclusively to the points relevant to the issue in question.

Article 33.

1. The recognition referred to in the preceding article, whether general or particular, will be made in the establishment of the employer, in his presence or that of the person to commission, having the appropriate measures for the proper conservation adopted and custody of the books and documents.

2. In any case, the person whose request is decreed recognition may make use of technical aids in the manner and number that the judge deems necessary.


Article 34. (1) (See footnote).

1. At year end, the employer shall make the annual accounts your company, which will include the balance sheet, profit and loss and memory. These documents form an unity.

2. The annual accounts must be drawn up clearly and true and fair view of the assets, liabilities, financial position and results of the company, in accordance with the laws.

3. When the application of laws is not sufficient to show the true picture, the additional information accurate to achieve this result will be provided.

4. In exceptional cases, if the application of a legal provision in accounting is incompatible with the faithful image that must provide annual accounts, such provision shall not apply. In these cases, the memory should be noted that lack of application sufficiently motivated and explained its effect on the assets, financial position and results of the company.

5. The annual accounts they should be made expressing the values ​​in pesetas.

Ap. 5 from disp added. adic. 1.2 2 of / 1995, 23 of February (RCL 1995, 953) Act. It will apply to financial statements from fiscal years beginning give the 1 1995 day of January or in the course of that year.

Article 35.

1. The balance shall comprise, with due separation, property and rights which constitute the assets of the company, and obligations are liabilities of the same, specifying equity. The opening balance exercise must correspond to the closing balance of the previous year.

2. The profit and loss include, also duly separated, income and expenses for the year and of differences, the result. It will distinguish themselves ordinary operating results of which will not be or arising in extraordinary circumstances.

3. Memory complete, expand and comment on the information contained in the balance sheet and the profit and loss account. When imposing a legal provision, the report will include the financial table in which the proceeds from the exercise and their different origins, and the application or use thereof in fixed assets or working capital be recorded.

4. In each of the balance sheet and profit and loss account and in the financial table should, in addition to the figures for the year closes, those for the immediately preceding year figure. When these figures are not comparable, you must adjust the amount of the previous year. In any case, the impossibility of comparison and any adjustment of the amounts must be shown in the specification and relevant comments.

5. In the balance sheet or the profit and loss account does not include those items to which does not correspond any, unless the amount held by them in the previous year.

6. compensation between the assets and liabilities, or between income and expenditure items is prohibited.

7. In the absence of specific legislation, the structure of the balance sheet and profit and loss account shall comply with the regulations approved models.

Article 36.

The balance sheet and profit and loss account can not be changed from one year to another. However, in exceptional cases, it may not apply this rule to be removed from memory with proper justification.

Article 37.

1. The annual accounts must be signed:

1º by the employer, whether it is individual.

2º by all partners with unlimited liability for corporate debts, if collective or limited partnership.

3º For all managers, if corporation or limited liability company.

2. In the cases referred to 2º and 3º the previous paragraph numbers If the signature of one of the persons indicated therein, shall be noted on the documents missing, with express mention of the case.

3. The date shall be expressed signatory formula that accounts had been formulated.

Article 38.

1. The assessment of the elements of the various items shown in the annual accounts shall be made in accordance with generally accepted accounting principles. In particular, the following rules shall be observed:

a) It shall be presumed that the company continues to operate.

b) endpoints from one exercise to another will not change.

c) the principle of prudence will continue. This principle, in case of conflict shall take precedence over any other force, in any case, to pick up on the balance sheet only profits made at the time of its closure, to take into account all foreseeable risks and potential losses arising in the year or in prior years, distinguishing those made or irreversible potential or reversible, even if they only knew each date of the balance sheet and in which it is made, in which case it shall report in memory, and take into account the depreciations, whether the exercise is settled with profit and loss.

d) it is charged to the year to which the annual accounts expenses and revenues affecting the same, regardless of the date of payment or collection relate.

e) the constituent elements of the various assets and liabilities were separately assessed.

f) The elements of the fixed and current are counted, without prejudice to the next item, the cost, or the cost of production.

2. In exceptional cases the application of these principles not be accepted. In such cases, the memory should be noted that lack of application sufficiently motivated and explained its effect on the assets, financial position and results of the company.

Article 39.

1. Property, plant and whose current use have a time limit should systematically amortized over the period of use. However, even if its use is not limited in time, when it is expected that the depreciation of these assets is durable, the necessary valuation adjustments are made to attribute the lower value corresponding to them on the date of the balance sheet.

2. the necessary valuation adjustments are made in order to attribute the lower elements of the current market value or any other lower value payable thereon, under special circumstances, at the date of the balance sheet.

3. The impairment of fixed and circulating referred to the two preceding paragraphs, shown separately in the balance by means of the corresponding provisions, except for having such corrections irreversibility constitute realized losses.

4. Valuation at the lower value, pursuant to the provisions of the preceding paragraphs may not be continued if the reasons for value adjustments no longer exist.

5. Exceptionally tangible fixed assets and raw materials and consumables which are constantly renewed, with a total value of secondary importance for the company, may be included in the assets for an amount and fixed value, if the quantity, value and composition does not vary significantly . When this assumption is applied it will be brought into memory the foundation of this application, and the amount it means.

6. Goodwill can only appear in the balance sheet when acquired for consideration.

Article 40.

1. Without prejudice to the provisions of other laws undertake to submit annual accounts to the audit of a person who has legal status auditor, and the provisions of 32 and 33 articles of this Code, every employer shall be obliged to to audit the financial statements of your company, if so decided by the competent court, even via voluntary jurisdiction, if it accepts the request founded who can show a legitimate interest.

2. In this case, the Court shall require the petitioner adequate security to meet the payment of legal costs and expenses of the audit, which will be in charge when not resulting defects or material irregularities in the revised, for which financial statements present the auditor in the Court a copy of the report made.

Article 41.

1. For the formulation, submission to the auditing and publication of annual accounts, corporations, limited liability limited by shares shall be governed by their respective rules.

2. Collective societies and simple limited partnerships, as at the date of close of all general partners are Spanish or foreign companies, shall be subject to the provisions of Chapter VII of the Companies Act (RCL 1989, 2737 and RCL 1990, 206 ), except as set out in its Section 9ª

(1) Royal Decree 1514 / 2007 16 of November, approving the General Accounting Plan approved, introduces new documents in the financial statements:

Documents that make up the annual accounts

The annual accounts comprise the balance sheet, income statement, statement of changes in equity, the cash flow statement and memory.

These documents form a unit and must be written in accordance with the provisions of the Commercial Code in the revised text of the Corporations Law, the Law on Limited Liability Companies and the General Accounting Plan; in particular based on the conceptual framework of accounting and in order to show the true picture of the assets, liabilities, financial position and results of the company.

When formulated to balance, statement of changes in equity and short memory model, the cash flow statement is not required.

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Inés Gros

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