Every accountant must follow the General Accounting Plan (PGC) to align the activities that involve accounting. This text contains the basic rules of Spanish accounting .
The PGC is structured as follows:
Introduction: Most important issues to consider.
Conceptual Framework: set of fundamentals and basic concepts that must be included in the annual accounts and their elements, the accounting principles, the valuation criteria, and the generally accepted accounting principles and standards.
Recording and Valuation Standards: develops the accounting principles and other provisions contained in the conceptual framework.
Annual accounts: balance sheet; profit and cambodia phone data loss account; statement of changes in equity, cash flow statement and notes.
Chart of Accounts: accounting books, basic financing, fixed assets, stocks, creditors and debtors for traffic operations, financial accounts, purchases and expenses, sales and income, expenses charged to net worth and income charged to net worth.
Accounting Definitions and Relationships: detailed development of the chart of accounts.
The first four parts are mandatory for all companies and the last two are voluntary.
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