When society can formulate balance sheet and statement of changes in equity in abbreviated model, the EFE is not compulsory. 1.3 New quantitative limits for the profit and loss account on the other hand, abridged formulation should be noted have also changed the criteria for the formulation of the abbreviated profit and loss account. In this sense, if we compare the quantitative limitations of the new article 176.1 of the LSA, which regulates this matter, with the old article 190 of the LSA (repealed by law 16/2007), modified by Royal Decree 572/1997, on April 18, has passed the limit of 9.480.379,22 euros for the total of the items in the asset, the 11.000.000 euros, while the net amount of turnover is now 22.000.000 euros, front of 18.960.758,43 previous euros. The implementation of the outcome of the La Ley 16/2007 exercise has repealed article 194 of the LSA, which established the requirement that items that findings of formation expenses, research and development expenses and goodwill were fully amortized before being able to distribute dividends. However, new paragraphs 3 and 4 of article 213 of the LSA, introduced by law 16/2007, establishing the prohibition on any distribution of profits if the amount of the available reserves of society is not, at a minimum, equal to the amount of expenditure on research and development than included in the balance sheet assets. Related to goodwill, sets the obligation to equip an unavailable reserve equivalent to goodwill, allocating for this purpose a number of benefit (or voluntary reserves, in case there is no benefit) representing at least 5% of the amount of such goodwill. On the other hand, as we have seen, the start-up expenses have been reflected in the ECPN.
Some conclusions the legislator has attempted to soften the definite implementation of international accounting standards and international standards of financial reporting in the accounting system Spanish, trying to marry the traditional bases of this system with totally extraneous elements, and sometimes directly opposing to it. Thus, the traditional approach of prudence is hardly compatible with the reasonable value, what the legislator opted to reduce the scope of the first, to allow the timid entry of the second. From the point of view of trade law, the most significant changes are those relating to the approval of annual accounts and to the distribution of dividends. In relation to the approval of annual accounts, we find two new documents, the ECPN and the EFE. On the other hand, in relation to the distribution of dividends, limitations to it have changed shape, but not fund, since amortization requirement has been replaced by the Constitution of unavailable reserves for research and development expenses and goodwill.