Fiduciary
The new edition of the "Précis de droit comptable [Accounting Law handbook]" was published in July 2020 [it is currently unavailable in English].
This is the fifth edition of the Précis de droit comptable: originally published in 2008, the Précis has been enriched and re-edited for the first time in 2011 (2nd edition), then in 2013 (3rd edition), again in 2016 (4th edition), and finally in 2020 (5th edition).
This fifth edition (290 pages) summarises all the changes in legislation and in accounting, tax and company law practices during the period between 2016 and 2020.
Among the additions, we will cite for example:
- Updates from the implementation of PCN2020;
- The accounting of transactions in crypto-currency and the preparation of the annual accounts in crypto-currency (Bitcoin);
- the practical procedures for assessing balance sheet items at fair value;
- The accounting of factoring transactions depending on whether or not the factoring agreement contains a risk transfer clause;
- Accounting of disposals of fixed assets;
- The allocation of reserves (both in the case of the SARL's own reserve and in the case of the legal reserve or the five-year reserve);
- The recording of inventory transactions related to the recognition of the tax liability;
- Equity contributions not remunerated by securities;
- Advances received deducted from the value of inventories;
- The entries in the accounting notes;
- Obligations arising from the discovery of significant losses;
- Consolidation of accounts and tax consolidation;
- tax fraud
- and much more.
True to its philosophy, the Précis de droit comptable sets out to explain both the legislation and the practices in force with regard to the preparation and presentation of annual accounts in Luxembourg and to illustrate them with numerous examples of practical application.
Précis de Droit comptable, Denis COLIN, Legitech editions, 290 pages, ISBN 978-2-919782-63-5,