The fundamentals of Luxembourg accounting
- 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 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
A qui s'adresse la formation?
- Beginners in accounting, administrative co-workers, and fiduciary staff (introductory level)
- External and internal auditors
An attendance certificate will be sent to participants.