The removal of extraordinary charges/income captions and the new turnover definition, excluding the reference to “derived from the sale of products and the provision of services falling within the company's ordinary activities” lead to potentially consider the inclusion of such profits formerly classified as extraordinary in the turnover definition.
Note to annual accounts of parent company and subsidiaries - Information on consolidated accounts
The Q&A provides details on the information to be disclosed by:
All subsidiary undertakings included in the consolidated accounts of a parent undertaking (Article 65  15 ° LRCS) – this guidance provides clarification on the smallest/largest body of which the company forms a part as a subsidiary
Subsidiary undertakings that are also parent undertakings and who wish to avail themselves of the so-called "sub-group" exemption (Article 314  [c] LSC)
Parent undertakings drawing up consolidated accounts
Note to annual accounts on participating interests - Exception to theexemption principle for small enterprises
The Q&A covers:
Reminder and clarification on information required on participating interests (Article 65  2 ° LRCS), including consideration of the legal form and of the publicity of the annual accounts of the participating interest (different requirements apply)
General principle applicable to small undertakings engaged in an industrial or commercial activity
Exception to the exemption for small businesses whose activities are financially predominant, mainly holding companies with a holding or financing activity. The CNC states that, in respect of the true and fair view principle, such entities shall not be exempted to disclose a note on their participating interests
We trust this information is of assistance and remain at your disposal for any questions.
Karine is a partner within the Tax Accounting department leading our compliance and advisory accounting services for the Real Estate industry. She has more than 20 years of experience within Deloitte,... More
Georges is a partner in the audit department and brings broad experience in coordinating large audits of financial services and non-financial services clients. He is the family business as well as the... More
Lize is a partner within our audit department and has over 15 years of experience as an auditor, mainly in real estate (regulated and unregulated direct real estate funds and property companies), priv... More
Nick is a partner within the audit department and has over 19 years' experience in this area. He has enjoyed experiences in three other international Deloitte offices. Nick has gained vast experience ... More