Foreign exchange rules under Lux GAAP

• What are the general rules regarding the foreign exchange under Lux GAAP?
• What are the most common accounting policies applied under Lux GAAP in that respect?

These are some of the questions professionals may ask themselves.

This training gives an overview of the Luxembourg accounting framework. Using concrete examples it provides participants with the practical knowledge required for the accounting of basic and specific operations.

This course also covers the related principal tax aspects.

By the end of this course, participants will be able to:

• understand the differences between realised and unrealised gains and losses and their impacts on the annual accounts;
• explain the accounting policies for foreign exchange currency transactions under Lux GAAP;
• understand specific operations (change in the presentation currency, branches,…);
• explain the main tax aspects.

• Introduction
  • Functional currency versus presentation currency
  • Impact of the currency of the subscribed capital
• Accounting policies
  • General principles and commonly admitted methods
  • Initial measurement
  • Subsequent measurement
• Specific operations
  • Assets and liabilities economically linked
  • Change of presentation currency
  • Branches
• Tax aspects
  • Definitions
  • Annual accounts in EUR – accounting policies and tax impact
  • Annual accounts in currency
  • Particular cases with foreign exchange risk
• Practical cases
  • Assets and liabilities economically linked
  • Partial repayment of a loan receivable
  • Balance sheet conversion

An attendance certificate will be sent to participants.

This training is coordinated by Damien Brunet, Director at PwC Luxembourg.

The training will be presented by experts in the accounting field.

• Damien Brunet is a director and certified chartered accountant in Luxembourg and France with over 16 years of experience in accounting and tax. He specialises in alternative investment accounting and tax compliance, focusing on private equity, international structures, and operational companies across various industries. Damien’s key responsibilities include preparing and reviewing accounting and financial reporting, such as annual accounts, GAAP conversion, monthly reports, and tax reporting including tax returns and withholding tax filings. He works within PwC Luxembourg’s Global Compliance Services and Lux GAAP Technical teams, coordinating the Lux GAAP technical team and leading Lux GAAP training courses at PwC Academy.