We analyze the most important changes that the PGC for SMEs and Micro-enterprises has undergone for 2017.
Much has been said about the modifications to the General Accounting Plan (PGC) affecting SMEs made by Royal Decree 602/2016, of December 2nd; here we analyze the most important ones:
-
What are the requirements for using the PGC Pymes?
| Before the reform |
After the reform |
| Assets Less Than €2,850,000.00 |
Assets Less Than €4,000,000.00 |
| Turnover Less than €5,700,000 |
Turnover Less than €8,000,000.00 |
| Number of workers less than or equal to 50 |
Number of workers less than or equal to 50 |
- Two of these three requirements must be met and maintained for at least two years.
-
Modification of Intangible Assets:
| Before the reform |
After the reform |
| Intangible assets are assets with an indefinite useful life |
Intangible assets are assets with a defined useful life |
| They will not be amortized |
If they will be amortized |
| Its potential deterioration should be analyzed whenever there are indications of it, and at least annually |
Its potential deterioration should be analyzed whenever there are indications of it, and at least annually. |
-
What documents make up the annual accounts?
| Before the reform |
After the reform |
| Balance sheet |
Balance sheet |
| Profit and loss account |
Profit and loss account |
| Statement of changes in equity |
Statement of changes in equity (Optional) |
| Memory |
Memory |
| Statement of cash flows (Optional) |
Statement of cash flows (Optional) |
-
What are the most important changes in the content of the memory?
| Before the reform, the following was reported: |
After the reform, it is reported that: |
| Section 3: Application of results |
The obligation to report the application of the result disappears. |
| Section 4: Intangible assets with indefinite useful life |
They do not have an indefinite lifespan and therefore are not reported. |
| Section 6: The carrying amount of each category of financial liabilities will be disclosed and each item will be broken down. |
Disappears |
In conclusion
We can observe that the variations produced by the aforementioned royal decree are coherent measures that, broadly speaking, improve several aspects, facilitating the interpretation and preparation of the accounts.
Do you have any questions about this topic?
Our team of expert advisors will help you resolve any issues related to our services.
Contact us now
With a degree in Business Administration and Finance, he combined his work as a consultant in the tax and accounting department of Gestart Assessores with his studies for ten years, primarily a degree in Business Administration and Management from the University of Barcelona. In March 2017, he joined Àmbit Assessor, SL as a tax and accounting consultant.
Latest posts by Francisco Romero
(see all)
Related
