New rules learn consequences on downgrading for some measures in the commerce code regarding information in the annexe come under from now on ANC’s authority.
Two regulations of the Accounting Standards Body (ANC in French), currently under approval, proceed additional adjustments surroundings the transposition on Unique Accounting Directive (Dir. 2013/34/UE on 23-6-2013) one is about annual accounts (regulation 2016-07) and other about consolidated accounts (regulation 2016-08).
What is the General Accounting Plan’s modification?
Corrections on General Accounting Plan (PGC in French) are mainly editorial corrections or consecutive of information’s reordering to provide in the annexe with existing laws.
Otherwise, the calculation to workforce during the financial year quoted in the annexe is aligned with the method of the article D 123-200 on commerce code and content of the information about external auditor’s fees to provide in the annexe is modified in order to the auditor’s reform.
Notable: the residual references at inventory book are removed.
What modifications concerning consolidated accounts?
As well as annual accounts, some steps related to information to provide in the consolidated accounts’ annexe, downgraded on Commerce Code, are introduced in the regulation CRC 99-02 linked with consolidated accounts.
The paragraph about consolidated accounts’ closing date is altered in order to be brought in line with the article L 233-25 on Commerce Code what authorize to retain the closing date adopted by majority on companies ‘group if that date is different to consolidate firm.
In the consolidated annexe, the information with reference to auditors’ fees is from now to present for each external auditor and, like the annual accounts’ annexe, its content is adapted at audit reform.
Notable: some steps became obsolete are removed.
In compliance with the Unique Accounting Directive, method of the « pooling of interest » for accounting acquisition is removed for the benefit on a new method authorizing the accounting with book value, only for firm’s group under common control. The new rule defines conditions for the application.
Finally, the directive allow the accounting with book value only in case to upholding control by the same part before and after the operation, possibility to use this method for operation end in a joint control is removed.
Application on this modifications
This modifications who affect adjustments on PCG, will apply at financial years opened of the date of publication on regulation to ANC in the Official Journal, probably for 2016’accounts.
The adjustments on regulation regarding consolidated accounts will apply for financial years opened from 1st January 2016 (when the rule has been approved) except for measures related to the new optional method allowed for groups under common control who will enter into force in 2017.