- Do you need to prepare annual accounts for commercial and holding companies?
- Are you wondering which accounting principles and conventions are applicable in Luxembourg?
- Or how to manage your closing entries?
There are many questions you may ask yourself.
This training gives an overview of the Luxembourg accounting regulatory framework based on concrete examples to give you the practical knowledge you need to prepare the annual accounts of a company.
This course is an introduction to Luxembourg accounting that will give you the knowledge on the basic fundamentals of accounting records.
The course does not cover exhaustively all accounting rules and topics, nor deal with complex accounting operations. However, it will give you the basics you need for accounting in Luxembourg.
At the end of the training, participants will be able to:
- Understand the basic principles of accounting;
- Understand the main accounting valuation rules of various balance sheet items and their impacts on the annual accounts;
- Record standard operations as well as the closing booking entries according to the Standard Chart of Accounts;
- Prepare a balance sheet and a profit and loss account under eCDF format on the basis of simple operations.
The goals and functions of the accounting
The main balance sheet captions
Description of profit and loss accounts
The importance of the notes to the accounts
The general accounting principles and key concepts
The other general accounting principles
The principle of the double entry
Discussion of classification and initial / subsequent measurement
The Standard Chart of Accounts
Booking of invoices
Other examples of bookings
The value adjustments on fixed assets elements
The value adjustments on current assets elements
The evaluation and the bookkeeping of the provisions
The principle of cut-off
Legal time frame
The filing process
- Beginners in accounting, administrative co-workers, and fiduciary staff (introductory level)
- External and internal auditors
Our lead experts
This training is coordinated by Alexandre Leleux, Partner in the accounting and tax compliance practice of PwC Luxembourg and Damien Brunet, Senior Manager in the Accounting Technical Team, in charge of the Luxembourg GAAP trainings.
The training will be presented by experts in the accounting field.
Alexandre is a partner of our ECF practice, active in the accounting and tax compliance of International Tax Structures, Operational companies, Real Estate and Private Equity sector. He has over 16 years of experience in audit and accounting.
His primary area of expertise is the preparation of financial statement under Lux GAAP, conversion from GAAP to GAAP and preparing various reporting (CSSF, BCL,...) to ensure the accounting compliance of operational companies, management companies and international and private equity structures.
He is also the head of the Lux GAAP technical team of PwC Luxembourg advising multinational clients on the accounting queries from tax, audit and advisory departments of PwC Luxembourg and other PwC offices.
He is also member of the editorial Board of ACE, an accounting, tax and audit professional magazine in Luxembourg.
This training is also available in French.
Number of participants: Limited to 20 participants to ensure good interactivity.
Duration: 0.5 day