--- oa_review_kit: v1 guide_slug: spain-financial-statements guide_version: spain-financial-statements@2026-05-23T06:30:24.262Z archetype: other --- # Review kit: Spain Financial Statements Thank you for reviewing this Guide. This kit is one file with three parts: how to use it, an interview prompt for your AI, and the Guide itself. ## How to use this kit (3 steps, about 15 minutes) 1. Open the AI you already use (ChatGPT, Claude, Gemini, anything that reads markdown) and paste in everything from "INTERVIEW PROMPT" below, including the Guide at the end. 2. Your AI interviews you like a colleague, one question at a time. Just talk: war stories, walk-throughs, the mistakes you catch. No writing required. 3. Your AI writes your answers up as a single markdown file. Hand it back at openaccountants.com/skills/spain-financial-statements/handback (also linked from the Guide page: "Hand back your file"). What you added is published under your name and credential. If your AI cannot produce the exact output format, hand back whatever you have: a revised Guide file, a worksheet, or plain notes. We take those too, and a person reviews them by hand. The format below is the one we can apply straight away. --- # INTERVIEW PROMPT (paste from here down into your AI) You are interviewing a practising accountant about how they actually do the work covered by the attached Guide ("Spain Financial Statements", slug `spain-financial-statements`). Interview them like a colleague doing a handover. Do not lecture. Ask ONE question at a time and wait for the answer. Chase war stories and specifics: what kind of client, which portal step, how big the penalty was. The rates, thresholds, and citations are our job; we refresh those from primary sources. Capture ONLY what is NOT derivable from law: - order of operations, and what a wrong order corrupts - what to ask a client before computing anything - what to assume when a fact is unknown, and how it gets flagged - the most-missed traps, with penalty size and who falls in - how the portal or filing channel actually behaves - what has to reconcile before anyone signs - when to refuse the work and hand it to a human specialist If the accountant corrects a rate, threshold, or deadline in the Guide along the way, record it in the FACT CORRECTIONS table, but do not steer the interview toward numbers. ## Questions to work through Ask these in order, one at a time. Skip any the accountant has already covered; follow up where a story has specifics worth pinning down. Each question is tagged with the method slot(s) it feeds. 1. [sequence] Walk me through the last one of these you did for a real client, start to finish. What did you open first, and why that order? 2. [intake_questions] A new client sits down for this work. What are your first five questions before you touch a number? 3. [evidence] Which documents do you insist on seeing, and which do you take the client's word for? 4. [trap] When you review this work drafted by someone else, what mistake do you catch most often? 5. [conservative_default] When a key fact is unknowable at draft time, what do you assume, and how do you flag it? 6. [judgment_rule] When the law allows two routes, how do you actually pick, and what do you write down about the choice? 7. [cross_check] Before you sign, what has to reconcile with what, and how close is close enough? 8. [filing_mechanics] Walk me through the actual submission: the portal steps, the order things must happen in, what locks, what you can't undo. 9. [scope_gate] Which clients do you refuse or refer to a specialist for this work? What makes you stop? 10. [unsettled_law] Anything here you deliberately won't finalise right now because the rules are moving? 11. [handback_protocol] What exactly do you hand over at the end? What's in your working paper? ## Method slots (for tagging the write-up) - `scope_gate` (Scope gate and refusals): when to stop and send the client to a human - `sequence` (Order of operations): what order to do things in, and what a wrong order corrupts - `intake_questions` (Client intake questions): what to ask a client before computing - `evidence` (Documents and evidence): which documents to insist on, and what is draft-grade vs file-grade - `judgment_rule` (Judgment rules): how a practitioner actually picks when the law allows two routes - `conservative_default` (Conservative defaults): what to assume when a fact is unknowable at draft time - `trap` (Traps and most-missed items): the mistakes everyone makes, what they cost, and who falls in - `filing_mechanics` (Portal and filing mechanics): how submission actually works: channel, order, what locks - `cross_check` (Cross-checks before signing): what has to reconcile with what before delivery, and how close is close enough - `pattern_library` (Pattern library): how messy real-world data (bank lines, payout platforms) maps to tax categories - `edge_case` (Edge-case playbook): the client situations that change the method, not just the numbers - `unsettled_law` (Unsettled-law flags): what not to finalise right now, and why - `handback_protocol` (Hand-back protocol): what the finished working paper contains and who reviews it ## Output format: oa-handback v1 When the interview is done, write the answers up as ONE markdown file in exactly this shape. Fill in the reviewer's real name, credential, and email (ask for them at the end if they have not come up). Every method block gets a `### [method:]` heading where `` is one of the 13 slot ids above. Keep `guide_slug` and `guide_version` exactly as given. Omit any section the interview produced nothing for, but keep the headings that remain exactly as shown. The `fact_key` column may be left blank when unknown. ```markdown --- oa_handback: v1 guide_slug: spain-financial-statements guide_version: spain-financial-statements@2026-05-23T06:30:24.262Z reviewer_name: reviewer_credential: # free text: CPA, EA, ACCA, Steuerberater... reviewer_email: verdict: --- ## METHOD ### [method:filing_mechanics] ### [method:intake_questions] - - ... ## FACT CORRECTIONS | fact_key | current | correct | source | |---|---|---|---| | | | | | ## FLAGS - [unsettled] - [refer] ## NOTES ``` If for any reason you cannot produce this exact format, output the accountant's corrections and methods as clear plain notes instead. The hand-back page accepts plain notes and revised Guide files too; this format is an optimization, never a gate. --- # THE GUIDE UNDER REVIEW --- name: spain-financial-statements description: Use this skill when preparing, reviewing, or advising on annual financial statements (cuentas anuales) for a Spanish company. Trigger on phrases like "cuentas anuales", "Registro Mercantil", "depósito de cuentas", "Plan General de Contabilidad", "PGC", "PGC PYMES", "balance", "cuenta de pérdidas y ganancias", "memoria", "auditoría España", "ICAC", or any question about preparing and filing statutory accounts under Spanish commercial law. Covers PGC/PGC-PYMES frameworks, size thresholds, required statements, formats, notes, filing deadlines, and audit requirements. jurisdiction: ES domain: financial-statements tax_year: 2025 --- # spain-financial-statements ## Spain Financial Statements Skill v1.0 ## Section 1 -- Quick Reference **Quick Reference** | Field | Value | | --- | --- | | Country | Spain (Reino de España) | | Currency | EUR | | Filing authority | Registro Mercantil Provincial | | Primary legislation | Texto Refundido de la Ley de Sociedades de Capital (TRLSC); Código de Comercio | | Supporting legislation | Real Decreto 1514/2007 (PGC); Real Decreto 1515/2007 (PGC-PYMES); Ley 22/2015 (Auditoría) | | Accounting standards | Plan General de Contabilidad (PGC) or PGC-PYMES | | Financial year | Usually calendar year (January–December) | | Filing deadline | 1 month after AGM approval of accounts | | AGM deadline | Within 6 months from year-end | | Filing fee | Approximately EUR 20–40 (varies by registry) | | Digital filing | Electronic via registradores.org or paper | ## Section 2 -- Reporting Framework **Reporting Framework** | Entity type | Applicable standard | | --- | --- | | Large/medium companies | PGC (full Plan General de Contabilidad, RD 1514/2007) | | Small companies (eligible per Art. 257 TRLSC) | PGC-PYMES (simplified, RD 1515/2007) or full PGC (choice) | | Micro-entities (Art. 2 RD 1515/2007) | PGC-PYMES with additional micro-entity simplifications | | Listed groups (consolidated) | IFRS as adopted by the EU (mandatory) | | Non-listed groups (consolidated) | PGC consolidated rules or IFRS (choice) | ## Section 3 -- Size Thresholds ### Abbreviated accounts (cuentas anuales abreviadas) — Art. 257 TRLSC - **Eligibility condition** — Companies may prepare abbreviated balance sheet and equity statement if for two consecutive years they meet at least 2 of 3 criteria _(Art. 257 TRLSC)_ **Abbreviated balance sheet vs P&L thresholds** _(Art. 257, Art. 258 TRLSC)_ | Criterion | Abbreviated balance sheet (Art. 257) | Abbreviated P&L (Art. 258) | | --- | --- | --- | | Total activo (Total assets) | ≤ EUR 4,000,000 | ≤ EUR 11,400,000 | | Cifra de negocios (Turnover) | ≤ EUR 8,000,000 | ≤ EUR 22,800,000 | | Empleados (Employees) | ≤ 50 | ≤ 250 | ### PGC-PYMES eligibility - **PGC-PYMES eligibility thresholds** — Same thresholds as abbreviated balance sheet (Art. 257 TRLSC): assets ≤ EUR 4M, turnover ≤ EUR 8M, employees ≤ 50. _(Art. 257 TRLSC)_ ### Micro-entity criteria (within PGC-PYMES) **Micro-entity criteria** | Criterion | Threshold | | --- | --- | | Total activo | ≤ EUR 1,000,000 | | Cifra de negocios | ≤ EUR 2,000,000 | | Empleados | ≤ 10 | ## Section 4 -- Required Financial Statements **Required Financial Statements** | Document | Micro/Small (abbreviated) | Medium/Large (normal) | | --- | --- | --- | | Balance (Balance sheet) | Required (abridged) | Required (full) | | Cuenta de pérdidas y ganancias (P&L) | Required (abridged if Art. 258 met) | Required (full) | | Estado de cambios en el patrimonio neto (ECPN) | Not required (abbreviated) | Required | | Estado de flujos de efectivo (EFE / Cash flow) | Not required | Required (if not abbreviated balance) | | Memoria (Notes) | Required (abbreviated) | Required (full) | | Informe de gestión (Management report) | Not required (if abbreviated balance) | Required | | Informe de auditoría (Audit report) | If applicable | Required | ## Section 5 -- Year-End Adjustments Checklist **Year-End Adjustments Checklist** | # | Adjustment | Spain-specific notes | | --- | --- | --- | | 1 | Amortización (Depreciation) | PGC NRV 2ª; systematic method; useful life; fiscal tables (tax alignment common for SMEs) | | 2 | Provisiones (Provisions) | PGC NRV 15ª; probable obligation, reliable estimate | | 3 | Periodificación (Accruals/prepayments) | Ajustes por periodificación; strict matching | | 4 | Deterioro de créditos comerciales (Bad debts) | PGC NRV 9ª; individual + portfolio-based; insolvency at 6 months overdue | | 5 | Existencias (Inventory) | Lower of cost (PMP/FIFO) and net realisable value | | 6 | Impuesto diferido (Deferred tax) | PGC NRV 13ª; temporary differences; IS rate 25% (general) | | 7 | Diferencias de cambio (FX) | PGC NRV 11ª; monetary items at closing rate | | 8 | Indemnizaciones por despido (Severance) | Provision if restructuring plan exists | | 9 | Vacaciones devengadas (Holiday accrual) | Provision for untaken leave + social security | | 10 | Subvenciones de capital (Capital grants) | Recognised in equity, released to P&L over asset life | | 11 | Arrendamientos financieros (Finance leases) | Capitalised (PGC NRV 8ª) — substance over form | | 12 | Impuesto sobre Sociedades (IS provision) | Current tax + deferred tax adjustments | ## Section 6 -- Cuenta de Pérdidas y Ganancias Format (P&L) PGC format — normal model (by nature): ``` A) OPERACIONES CONTINUADAS 1. Importe neto de la cifra de negocios a) Ventas b) Prestaciones de servicios 2. Variación de existencias de productos terminados y en curso 3. Trabajos realizados por la empresa para su activo 4. Aprovisionamientos a) Consumo de mercaderías b) Consumo de materias primas c) Trabajos realizados por otras empresas 5. Otros ingresos de explotación 6. Gastos de personal a) Sueldos, salarios y asimilados b) Cargas sociales 7. Otros gastos de explotación 8. Amortización del inmovilizado 9. Imputación de subvenciones de inmovilizado no financiero 10. Excesos de provisiones 11. Deterioro y resultado por enajenaciones del inmovilizado A.1) RESULTADO DE EXPLOTACIÓN 12. Ingresos financieros 13. Gastos financieros 14. Variación de valor razonable en instrumentos financieros 15. Diferencias de cambio 16. Deterioro y resultado por enajenaciones de instrumentos financieros A.2) RESULTADO FINANCIERO A.3) RESULTADO ANTES DE IMPUESTOS 17. Impuestos sobre beneficios A.4) RESULTADO DEL EJERCICIO PROCEDENTE DE OPERACIONES CONTINUADAS B) OPERACIONES INTERRUMPIDAS A.5) RESULTADO DEL EJERCICIO ``` ## Section 7 -- Balance Format (Balance Sheet) PGC format — normal model: ``` ACTIVO (Assets) A) ACTIVO NO CORRIENTE I. Inmovilizado intangible II. Inmovilizado material III. Inversiones inmobiliarias IV. Inversiones en empresas del grupo y asociadas a largo plazo V. Inversiones financieras a largo plazo VI. Activos por impuesto diferido B) ACTIVO CORRIENTE I. Existencias II. Deudores comerciales y otras cuentas a cobrar III. Inversiones en empresas del grupo y asociadas a corto plazo IV. Inversiones financieras a corto plazo V. Periodificaciones a corto plazo VI. Efectivo y otros activos líquidos equivalentes TOTAL ACTIVO ───────────────────────────────────── PATRIMONIO NETO Y PASIVO A) PATRIMONIO NETO (Equity) A-1) Fondos propios I. Capital II. Prima de emisión III. Reservas IV. Acciones y participaciones propias (-) V. Resultados de ejercicios anteriores VI. Otras aportaciones de socios VII. Resultado del ejercicio A-2) Ajustes por cambios de valor A-3) Subvenciones, donaciones y legados B) PASIVO NO CORRIENTE I. Provisiones a largo plazo II. Deudas a largo plazo III. Deudas con empresas del grupo y asociadas a largo plazo IV. Pasivos por impuesto diferido C) PASIVO CORRIENTE I. Provisiones a corto plazo II. Deudas a corto plazo III. Deudas con empresas del grupo y asociadas a corto plazo IV. Acreedores comerciales y otras cuentas a pagar V. Periodificaciones a corto plazo TOTAL PATRIMONIO NETO Y PASIVO ``` ## Section 8 -- Memoria (Notes to Accounts) **Memoria (Notes to Accounts)** | # | Disclosure | Abbreviated | Normal | | --- | --- | --- | --- | | 1 | Actividad de la empresa (Company activity) | Required | Required | | 2 | Bases de presentación (Basis of preparation) | Required | Required | | 3 | Normas de valoración (Accounting policies) | Required (simplified) | Required (full) | | 4 | Inmovilizado material e intangible | Required (summary) | Required (movements) | | 5 | Instrumentos financieros | Simplified | Required (full IFRS 7 equivalent) | | 6 | Existencias (Inventory) | Required | Required | | 7 | Fondos propios (Equity) | Required | Required | | 8 | Situación fiscal (Tax position) | Simplified | Required (reconciliation) | | 9 | Ingresos y gastos (Revenue/expenses) | Not required | Required | | 10 | Partes vinculadas (Related parties) | Required | Required (detailed) | | 11 | Otra información (Other) | Headcount, auditor fees | Full | | 12 | Hechos posteriores (Subsequent events) | Required | Required | ## Section 9 -- Filing Requirements **Filing Requirements** | Item | Detail | | --- | --- | | Filing authority | Registro Mercantil of the province where registered office is located | | Filing method | Electronic (registradores.org) or paper at registry | | Formulation deadline | Directors must formulate accounts within 3 months of year-end | | AGM approval deadline | Within 6 months from year-end | | Filing deadline | Within 1 month after AGM approval | | Latest possible filing | End of July (for calendar-year companies) | | Format | Standardised models approved annually by DGRN/DGSJFP resolution | | Language | Spanish (or co-official language of the autonomous community) | | Penalty for non-filing | Registry closure (no new entries); fine EUR 1,200–60,000 | | XBRL | Not mandatory for individual accounts (consolidated listed: ESEF/XBRL) | ### Consequences of non-filing - **Registry closure**: if accounts not filed for one year, the Registro Mercantil closes the company's sheet — no new registrations (appointments, capital changes) until filed - **Fine**: ICAC can impose fines from EUR 1,200 to EUR 60,000 (based on turnover) ## Section 10 -- Audit Requirements ### Mandatory audit (Art. 263 TRLSC) - **Mandatory audit trigger condition** — A company must undergo audit if, for two consecutive financial years, it exceeds at least 2 of 3 thresholds. _(Art. 263 TRLSC)_ **Mandatory audit thresholds** _(Art. 263 TRLSC)_ | Criterion | Threshold | | --- | --- | | Total activo (Total assets) | > EUR 2,850,000 | | Cifra neta de negocios (Net turnover) | > EUR 5,700,000 | | Número medio de empleados (Employees) | > 50 | - **Cessation of audit obligation** — The audit obligation ceases when the company no longer exceeds two thresholds for two consecutive years. _(Art. 263 TRLSC)_ ### Always subject to audit (regardless of size) - Companies issuing securities on regulated markets - Companies receiving public subsidies or contracting with public sector above certain thresholds - Companies forming part of a group required to consolidate - Insurance and financial entities ### Auditor qualification - **Auditor qualification requirement** — Auditor inscrito en el Registro Oficial de Auditores de Cuentas (ROAC), regulated by the Instituto de Contabilidad y Auditoría de Cuentas (ICAC). _(ROAC / ICAC)_ ## Disclaimer This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. 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