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    BDE Circular on Conforming with Changes from Adoption of IFRS 15 and 9

    November 27, 2017

    BDE published Circular 4/2017 to credit institutions on rules of public and reserved financial information and on models of financial statements. The objective of this circular is to adapt the accounting system of Spanish credit institutions to the changes in the European accounting system that result from the adoption of International Financial Reporting Standards (IFRS) 15 and IFRS 9. The two new standards will modify the accounting criteria for ordinary income and financial instruments, respectively, as of January 01, 2018.

    Related Link: Circular 4/2017 (in Spanish)

    Keywords: Europe, Spain, Banking, Accounting, IFRS 15, IFRS 9, Circular 4/2017, BDE

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