Accounting for non-accountants

Introduction

Is your business directly or indirectly impacted by accounting? Is accounting a main source of information having a direct impact on your decisions?

If so, it is essential for you to understand the main concepts of accounting in order to wisely use this information and understand its impact on your operations.

Objectives

By the end of the training, participants will be able to:

• describe the basic principles of accounting;
• identify the main valuation principles of various balance sheet items and their impacts on the annual accounts;
• understand the accounting rules and methods for financing and investment instruments;
• understand the annual accounts of a company.

1. The objective of accounting
2. Balance sheet and profit and loss accounts: their meaning
3. The major accounting policies/conventions
4. Some essential accounting classifications like:

• debt versus equity
• fixed versus current asset
• balance sheet versus off balance sheet items

5. Approval process and electronic filing procedure

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, the conversion from GAAP to GAAP and the preparation of 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 Lux GAAP transactions. He is also responsible of the e-accounts solution, a PwC’s online tool for the preparation and filing of annual accounts. He is CCA (Certified Chartered Accountant) in Luxembourg and chartered accountant in France. He is also the president of the training’s commission at the OEC.