The Fundamentals of Luxembourg Accounting - Confirmed Session!
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The Fundamentals of Luxembourg Accounting - Confirmed Session!

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courseType Technical Skills, Non Financial Sector

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General course details


Fundamentals of Luxembourg Accounting

OPEN14 Nov 2019 09:00 - 13:00 550.00 €

OPEN15 Jun 2020 09:00 - 13:00 550.00 €



Contact PwC's Academy

Phone +352 49 48 48 4040
Mail pwcacademy@lu.pwc.com

PwC's Academy
2 rue Gerhard Mercator
L-2182 Luxembourg
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Cofinancement de la formation: les nouvelles dispositions législatives 2018

Pour plus d'informations veuillez consulter notre article.

Ou directement : Lifelonglearning​​

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General course details

Introduction

  • 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.

Objectives 

 
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.

Content

  • The accounting language: the annual accounts

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 major accounting policies/conventions

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

  • The basis of accounting entries

Accounting rules

Booking of invoices

Other examples of bookings

  • The closing accounting entries

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

  • The filing of the annual accounts

Legal time frame

Legal requirements

The filing process

Target audience 

  • 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.
​Damien is a Senior Manager in the accounting and tax compliance practice of PwC Luxembourg and the coordinator of the Luxembourg Technical Accounting Group where he deals on a day to day basis with complex LuxGAAP transactions.
He is also responsible of the eAccounts solution, a PwC’s online tool for the preparation and filing of annual accounts.
He is Certified Chartered Accountant in Luxembourg and Chartered Accountant in France.
He is also the President of the training’s Commission at the OEC.
 

Useful information

 
Language:  English
This training is also available in French.
 
Number of participants: ​Limited to 20 participants to ensure good interactivity.
 
Duration: 0.5 day
 

More information

 
For further information on the preparation of the annual accounts, please refer to our brochure "Handbook for the preparation of annual accounts under Luxembourg accounting framework"


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