Sergio Olavarrieta IMPACTO DE LA ORIENTACIN EMPRENDEDORA EN A Administrao encontra-se na rea das Cincias Sociais Aplicadas e, como tal, deveria publish (see, for example, Garca, Rodrguez-Snchez, & Fernndez- Valdivia, .. ) or Ibero-American journals (Aguado-Lopez, Becerril-Garca, Arriola. This English version is a translation of the original in Spanish for information DE ACTIVOS NO CLASIFICADOS COMO NO CORRIENTES EN VENTA 43 (1) 3, (1) Mr. Jos Antonio Fernndez Rivero received, in addition to INC-1 UNITED STATES FINANCIAL SERVICES – 10 10 – 10 . .. /Directory/sillon-de-ruedas-electrico-como-nuevo-listingaspx weekly /Directory/muebles-para-iglesias-aguada-puerto-rico-listingaspx weekly com/Directory/toms-fernndez-marcos-y-cuadros-listingaspx weekly .
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Translation of financial statements originally issued in Spanish and prepared in Post on Mar views. This English version is a translation of the original in Spanish for information emprrendedores only.
In the event of a discrepancy, the original Spanish-language version prevails. Introduction, basis for presentation of the financial statements and internal control of financial information and other information Accounting policies and valuation criteria applied System of shareholder remuneration Fair value of financial instruments Cash and balances with central banks Financial assets and liabilities held for trading Other financial assets and liabilities at fair value through profit or loss Hedging derivatives receivable and payable and Fair-value changes of the hedged items in portfolio hedges of interest-rate risk Non-current assets held for sale Tax assets and liabilities Other assets and liabilities Financial liabilities at amortized cost Pensions and other post-employment commitments Capital base and capital management Contingent risks and commitments Other contingent assets and liabilities Purchase and sale commitments and future payment obligations Transactions for the account of third parties Interest income and expense and similar items Fee and commission income Fee and commission expenses Net gains losses on financial assets and liabilities Other operating income and expenses Impairment losses on financial assets net Impairment losses on other assets net Gains losses on derecognized assets not classified as non-current assets held for sale Gains losses on non-current assets held for sale Statements of cash flows Accountant fees and services Explanation added for translation into English Treasury stock 25 46 20 Income attributed 1, 1,Less: Income statements for the years ended December 31, and The accompanying Notes 1 to 51 and Appendices I to XIV are an integral part of the income statement for the year ended December 31, Statements of recognized income and expenses for the years ended December 31, and Statements of changes in equity for the years ended December 31, and Statements of cash flows for the years ended December 31, and The accompanying Notes 1 to 51 and Appendices I to XIV are an integral part of the statement of cash flows for the year ended December 31, Notes to the financial statements for the year ended December 31, Introduction, basis for presentation of the financial statements and internal control of financial information and other information 1.
It carries out its activity through branches and agencies across the country and abroad. The Bylaws and other public information are available for consultation at the Banks registered address Plaza San Nicols, 4 Bilbao and on its official website: In addition to the transactions it carries out directly, the Bank heads a group of subsidiaries, jointly controlled and associated entities which perform a wide range of activities and which together with the Bank constitute the Banco Bilbao Vizcaya Argentaria Group hereinafter, the Group or the BBVA Group.
In addition to its own individual financial statements, the Bank is therefore obliged to prepare the Groups consolidated financial statements.
The Banks financial statements for the year ended December 31, are pending approval by the Annual General Meeting. However, the Banks Board of Directors considers that the aforementioned financial statements will be approved without any changes. The Bank’s financial statements for the year ended December 31, have been prepared by the Banks directors at the Board of Directors meeting held on February 2, by applying the accounting policies and valuation criteria described in Note 2, so that they present fairly the Bank’s equity and financial position as of December 31,together with the results of its operations and cash flows generated during the year ended on that date.
FGV – RAE Revista de Administrao de Empresas, 2016. Volume 56, Nmero 3
All obligatory accounting standards and valuation criteria with a significant effect in the financial statements were applied in their preparation. The amounts reflected in the accompanying financial statements are presented in millions of euros, unless it is more convenient to use smaller units.
Some items that appear without a total in these financial statements do so because of the size of the units used. Also, in presenting amounts in millions of euros, the accounting balances have been rounded up or down.
Jaier is therefore possible that the amounts appearing in some tables are not the exact arithmetical sum of their component figures.
The percentage changes in amounts have been calculated using figures expressed in thousands of euros. It does not constitute the Bank’s financial statements for The Bank has proceeded to make a change in accounting policy with respect to contributions made to the Deposit Guarantee Fund retroactively, and therefore proceeded to restate certain amounts for the yearpresented for comparative purposes see Appendix XIV.
The main effect of this change is that: With respect to the income statements for the yearthe balances for the following line items have been modified: Therefore, the “profit attributable to parent company” for the year becomes 1, million compared to 1, million registered under the previous regulation. With respect to the balance sheet from yearthis change affects in a material manner the fernhdez for the emprendrdores line items: Deferred tax assets, Financial liabilities at amortized cost Other financial liabilities, Reserves and consequently the line items Total assets, Total liabilities, Stockholders funds and Total equity.
Estimates have to be made at times conejos preparing these financial statements in gauado to calculate the registered amount of some assets, liabilities, income, expenses and commitments.
These estimates relate mainly to the following: Impairment on certain financial assets see Notes 5, 6, 10, 11, 12 and The assumptions used to quantify certain provisions see Note 20 for the actuarial calculation of post-employment benefit liabilities and commitments see Note The useful life and impairment losses of tangible and intangible assets see Notes 13, 15 and The fair value of certain unlisted financial assets and liabilities in organized markets see Notes 5, 6, 8, 9, 10 and Although these estimates were made on the basis of the best information available as of December 31, on the events analyzed, future events may make it necessary to modify them either up or down.
This would be done in accordance with applicable regulations and prospectively, recording the effects of changes in the estimates in the corresponding income statement. Adjusting to the previously mentioned accounting criteria modification, the expense incurred by the contributions made to this Agency in and amounted to million and million, respectively.
These amounts are registered under the heading “Other operating expenses” of the accompanying income statements see Note A one-off Deposit Guarantee Fund contribution, applicable to 3 per thousand of eligible deposits.
The remaining part of the previously mentioned second contribution is recognized as a liability see Note 1. This amount will be paid off in two settlements, being the first one in June, 30th and the second one in June 30th The management of the Groups operations is carried out on a consolidated basis, independently of the individual allocation of the corresponding equity changes and their related results.
Consequently, the Bank’s annual financial statements have to be considered within the context of the Group, due to the fact that they do not reflect the financial and equity changes that result from the application of the consolidation policies full consolidation or proportionate consolidation methods or the equity method.
These changes are reflected in the consolidated financial statements of the Ferbndez Group for the yearwhich the Bank’s Board of Directors has also prepared. Appendix I includes the Group’s consolidated financial statements.
In accordance with the content of these consolidated financial statements prepared following the International Financial Reporting Standards adopted by the European Union, the total amount of the BBVA Groups assets and consolidated equity at the close of amounted tomillion and 51, million, respectively, while the consolidated net profit attributed to the parent company totaled 2, million.
Accounting policies and valuation criteria applied The Glossary includes the definition of some of the financial and economic terms used in Note 2 and cosejos Notes.
The accounting standards and policies and valuation criteria used in preparing these financial statements are as follows: All the changes in the value of financial instruments, except in trading derivatives, arising from the accrual of interests and similar items are recognized under the headings Interest and similar income or Interest and similar expenses, as appropriate, in the accompanying income statement for the year in which the accrual took place see Note The dividends paid from other companies are recognized under the heading Dividend income in the accompanying income statement for the year in which the right to receive them arises see Note The changes in fair value after the initial recognition, for reasons other than those mentioned in the preceding paragraph, are treated as described below, according to the categories of financial assets and liabilities: However, changes resulting from variations in foreign exchange rates are recognized under the heading Exchange differences net ” in the accompanying income statements.
Subsequent changes in this measurement gains or losses are recognized temporarily for their amount net of tax effect under the heading Valuation adjustments – Available-for-sale financial assets in the balance sheets see Note Changes in the value of non-monetary items resulting from changes in foreign exchange rates are recognized temporarily under the heading Valuation adjustments – Exchange differences in the accompanying balance sheets.
Changes in foreign exchange rates resulting from monetary items are recognized under the heading Exchange differences net ” in the accompanying income statements.
The amounts recognized under the headings Valuation adjustments – Available-for-sale financial assets and Valuation adjustments – Exchange differences continue to form part of the Bank’s equity until the asset is derecognized from the balance sheet or until an impairment loss is recognized in the financial instrument in question.
FGV – RAE Revista de Administrao de Empresas, Volume 56, Nmero 3 – [PDF Document]
If these assets are sold, these amounts are derecognized and entered under the headings Net gains losses on financial assets and liabilities or Exchange differences net “, as appropriate, in the income statement for the year in which they are derecognized see Note The net impairment losses in Available-for-sale financial assets over the year are recognized under the heading Impairment losses on financial assets net Other financial instruments not at fair value through profit or loss in the income statement for that year see Note This is because the Bank intends to hold such financial instruments to maturity.
Net impairment losses of assets recognized under these headings arising in a particular year are recognized under the heading Impairment losses on financial assets net Loans and receivables or Impairment losses on financial assets net Other financial instruments not valued at fair value through profit or loss in the income statement for that year see Note Changes that take place subsequent to the designation of the hedging relationship in the measurement of financial instruments designated as hedged items as well as financial instruments designated as hedge accounting instruments are recognized as follows: In fair value hedges, the changes in the fair value of the derivative and the hedged item attributable to the hedged risk are recognized under the heading Net gains losses on financial assets and liabilities in the income statement see Note 36with a balancing item under the headings of the balance sheet where hedging items “Hedging derivatives” or the hedged items are recognized, as applicable.
In fair value hedges of interest rate risk of a portfolio of financial instruments portfolio-hedgesthe gains or losses that arise in the measurement of the hedging instrument are recognized in the income statement, and those that arise from the change in the fair value of the hedged item attributable to the hedged risk are recognized in the income statement, using, as a balancing item, the headings “Fair value changes of the hedged items in portfolio hedges of interest rate risk” in the balance sheets, as applicable.
In cash flow hedges, the gain or loss on the hedging instruments relating to the effective portion are recognized temporarily under the heading “Valuation adjustments Cash flow hedging in the balance sheets.