Consideraciones sobre la Memoria según el nuevo Plan General de Contabilidad

Abstract

As a consequence both of globalization and of the disappearance of the principle of prudence, replaced by the concept of fair value, a new Spanish accounting framework tailored to the IFRS (International Financial Reporting Standards) is in place. As a component of the annual accounts, the new Annual Report assumes the main role since its reading reveals the true situation of the business activity, the assessment criteria and registration of assets, liabilities, income and costs, potential risks and threats to its business, its relationship with other affiliates and its future. In short, transparent and comprehensive business information addressed to the stock market.