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• Accounting treatment of a private sale of urban land conditional upon the registration of the land readjustment scheme.  [+Info]

This advisory addresses the accounting treatment of a sale of urban land formalised by a private contract, in which the selling company has received 50 per cent of the price in advance, but the actual transfer of the property is subject to the registration of a land readjustment scheme and the subsequent execution of a public deed. As neither of these events has yet taken place, nor have the relevant taxes been settled, the question arises as to whether the land should be derecognised and the gain on the transaction recognised, or whether, on the contrary, the amount received should be recorded as an advance payment, with the property remaining on the balance sheet until the transfer is finalised.

BOICAC No. 146/June 2026-1

• ICAC (Institute of Accounting and Auditing) sets out how to calculate the average payment period to suppliers in commercial transactions. [+Info]

The guidance addresses various issues relating to the calculation of the average payment period to suppliers in commercial transactions, in particular the date from which the number of days should be counted, the treatment of instalment payments, the effects of payment deferrals agreed with suppliers, and how to account for invoices from previous financial years paid in the current financial year. ICAC points out that, as a general rule, the period must be calculated from the date of receipt of the goods or the provision of the services; that partial payments must be measured and weighted individually based on the amount actually paid; and that, if payment is made within the agreed and legally permitted timeframe, there is no delay. It also specifies that invoices from previous financial years settled in the current financial year must be recognised up to the date of actual payment, and that additional information may be included in the notes to the accounts where circumstances exist that distort the result obtained.

BOICAC No. 146 / June 2026-2

• ICAC sets out the requirements for the publication of the corporation tax report under the 11th Additional Provision of the Audit Act by subsidiaries and branches of foreign groups. [+Info]

The consultation addresses the obligation to publish the report on corporation tax or taxes of an identical or analogous nature, as regulated in the eleventh additional provision of the Audit Act, in cases where there are several Spanish subsidiaries of the same foreign group or several branches in Spain of the same foreign company which, in principle, might be required to report. In particular, it considers whether the obligation must be fulfilled individually by each of them or whether it may be centralised in a single entity designated by the group or by the foreign company, provided that the report covers the required information and is accessible. Furthermore, the consultation examines whether the remaining subsidiaries or branches must identify the entity responsible for fulfilling the obligation and what happens when the entities concerned are located in different Member States of the European Union with different publication deadlines.

BOICAC No. 146 / June 2026-3

• Timing of revenue and expense recognition for software and maintenance services. [Info]

This guidance addresses the timing of revenue and expense recognition for an entity engaged in the supply and distribution of software, hardware and accessories, whose financial year does not coincide with the calendar year. In particular, it describes transactions relating to the leasing of software licences and maintenance services, both in intra-Community acquisitions with its parent company and in the provision of services to third parties, which may be of monthly, annual or multi-annual duration. ICAC points out that accounting entries must reflect the economic substance of the transactions and the accrual principle; furthermore, it must be analysed whether the entity is acting on its own account or on behalf of others, as this will determine whether revenue is recognised at the gross amount of the consideration or solely at the corresponding payment or commission.

BOICAC No. 146 / June 2026-4

Barcelona, 1st of September 2026.