chapter  10
20 Pages

Analysis of Changing Institutional Environments, New Accounting Policies, and Corporate Governance Practices in Spain

ByELENA DE LAS HERAS CRISTOBAL, JOSE LUIS UCIEDA

One may argue that Spanish accounting is one of the most standardized accounting systems in the world. It has a history of highly detailed charts of accounts and standardized fi nancial statements models that all companies must follow. Even listed companies and fi nancial institutions must comply with specifi c models to prepare their fi nancial statements. This might be seen as internal-domestic-standardization rather than international.