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National
- The ICAC is examining the accounting valuation of machinery recovered through a transfer in lieu of payment following the non-payment of a deferred sale. [+Info]
The enquiry relates to a company which, in the year 20X2, sold machinery recorded in its fixed assets on deferred terms, recognising a loss on the transaction. In 20X5, as the buyer was unable to meet the payment obligations, the sale contract was terminated and the machinery was returned to the selling company’s assets. In this context, the question arises as to the value at which the recovered asset should be recorded for accounting purposes.
BOICAC No. 147 / 2026 Consultation 3
- Timing of revenue recognition arising from maintenance contracts. [+Info]
The enquiring company is principally engaged in the wholesale of new commercial vehicles and offers, as an ancillary service, maintenance contracts with a fixed monthly fee. The entity asks whether, for the purpose of recognising revenue from these contracts in its accounts, it may apply a criterion based on the stage of completion of the service, taking into account the use of the vehicle and the estimated associated costs over the term of the contract.
BOICAC No. 147 / 2026 Consultation 2
- Temporal allocation of income and expenses. [+Info]
The enquiry relates to an entity engaged in the supply and distribution of software, hardware and accessories. Its main operations consist of acquiring software licences from its parent company and subsequently providing licence rental and maintenance services to third parties, on a monthly, annual or multi-annual basis. The question raised is how the income and expenses arising from these operations should be recognised over time, taking into account the accrual principle and the economic nature of the services provided.
BOICAC No. 146 / 2026 Consultarion 4
- On the obligation for certain subsidiaries or branches to publish the report governed by Transitional Provision 11 of the LAC, concerning corporation tax. [+Info]
The enquiry addresses how the obligation to publish the report on corporation tax, as provided for in Transitional Provision 11 of Law 22/2015 on the Audit of Accounts, should be fulfilled when there are several subsidiaries or branches in Spain belonging to the same group or foreign company not subject to the law of a Member State. It considers whether the obligation can be centralised in a single designated entity, how the other affected entities should identify this entity, and what criteria should be followed when the subsidiaries or branches are located in different Member States with different publication deadlines.
BOICAC No. 146 / 2026 Consultation 3
- Criteria for calculating the average payment period to suppliers: start date for the calculation, partial payments, payment deferrals and invoices from previous financial years. [+Info]
The ICAC examines various issues relating to the calculation of the average payment period to suppliers in commercial transactions, including the starting date for the calculation, the treatment of instalment payments, payment deferrals agreed with suppliers and invoices from previous financial years settled in the current financial year. The ICAC specifies that, as a general rule, the period is calculated from the receipt of the goods or the provision of the services; that partial payments must be assessed individually; and that there is no delay in payment where payment is made within the agreed and legally permitted timeframe.
BOICAC No. 146 / 2026 Consultation 2
- Accounting treatment of a sale of urban land conditional upon the registration of a land readjustment scheme. [+Info]
The enquiry concerns the accounting treatment of a sale of urban land formalised by a private contract, with an advance payment of 50 per cent of the price, where the actual transfer is conditional upon the registration of a land readjustment scheme and the subsequent execution of a public deed. Until these conditions are met, the land remains recorded as an asset and the amount received is accounted for as an advance payment, without yet recognising the sale or the profit or loss on the transaction.
BOICAC No. 146 / 2026 Consultation 1
Barcelona, 9th of November 2026.
