Introduction
The draft Grand-Ducal Regulation amending the Standard Chart of Accounts (“SCA”) brings us a number of novelties, clarifications and accounting doctrine.
Without being a revolution, this new SCA draws lessons from the first version and is intended to respond to the main concerns of users as emerged in the public consultation made by the Accounting Standards Commission.
Mastering this new legislation aims to understand the changes in order to prepare for the 2020 annual accounts.
In this context, mastering the practical and technical aspects of this new regulation is crucial for all accounting practitioners.
Objectives
At the end of the training, participants will be able to:
Recognise the practical implications of the new SCA and the impacts on future annual accounts.
Content
1. The objectives of this new SCA
On the basis of the review of the 2009 version, we will acknowledge the need for this change and realise that this update is more of an evolution than a revolution of the SCA, with the objective of a better harmonization of Luxembourg accounting framework.
2. The main new features
We will describe here the new doctrinal approach of this chart of accounts and the introduction of the transition table. The scope and automatic generation of the balance sheet and profit and loss account will also be discussed.
In a second part we will review the main changes in the 7 account classes.
3. How best to prepare for this new SCA
This last part will be an opportunity to exchange and discuss various practical aspects such as updating your accounting software, the work to be done on comparative figures and the issues that may be related to them.
Our lead expert
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.
Target audience
Accountants, Chartered Accountants and fiduciaries staff
Internal and external auditors
The plus of this training
A quick overview of the important changes
Concrete and practical examples
Interactivity and the presence of experts who use the SCA regularly
Practical information
Language: English
Duration: 2 hours
Number of participants: limited to 20 participants, to ensure a high interactivity during the training
Where does it take place?
PwC's Academy
2
Rue Gerhard Mercator Luxembourg Luxembourg
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