Once approved, they must be presented and deposited in the Mercantile Registry of the place where the Company is domiciled (article 279 of the LSC) where they will be available to any interested person since it is public information that can be accessed by everyone with just apply to the Registry. All these procedures have their specific regulation in the Mercantile Registry Regulations . The Profit and Loss Account Article 36.2 of the CoC describes what is the content of the Profit and Loss account (its elements), which are two.
Revenues represent an increase in net worth that is produced by inputs (invoicing) or by an increase in the value of assets or a decrease in that of liabilities; The contributions of the C Level Executive List partners of the company are not part of them. Expenses are decreases in equity during the year due to outflows (invoices received) or a reduction in the value of assets or an increase in liabilities; Payments for distribution of profits (dividends) to partners are not part of them. Although the preparation of the accounting is done in double entry.
Credit and Debit, in the income statement these income and expenses are shown separately and both groups remain square because the result itself is included ( losses or profits for the year ). Its configuration and content are provided for in section THIRD.I.7 of the General Accounting Plan (hereinafter PGC). Certain companies may formulate this document in an abbreviated form when they meet the requirements established for it by article 258 of the LSC. Off-account adjustments Everything seen so far has been done in accordance with commercial legislation (the CdC, the LSC, the PGC) and the accounts must be prepared in accordance with these regulations.