Chapter III: Subsidiaries, holdings and controlled companies.

The consolidated accounts may be prepared using, in addition to the valuation methods provided for in articles L. 123-18 to L. 123-21, the valuation methods laid down by a regulation of the Autorité des normes comptables. Assets held by organisations that are subject to valuation rules laid down by specific laws may be maintained in the consolidated financial statements at the value resulting from the application of these rules.

The consolidated balance sheet drawn up in accordance with a model laid down by a regulation of the Autorité des normes comptables shall be presented either in tabular form or in the form of a list. It shall at least show separately: 1° In respect of fixed assets: intangible fixed assets, tangible fixed assets, financial fixed assets; 1° bis In respect of current assets: inventories, receivables, marketable securities and cash;…

The consolidated profit and loss account drawn up in accordance with a model established by a regulation of the Autorité des normes comptables (French accounting standards authority) shows at least the net amount of consolidated sales, the profit after tax of all the companies consolidated by the equity method, and the share of profit of companies consolidated by the equity method. The share of minority shareholders or associates and the…

Deferred taxation resulting from: 1° Temporary timing differences between the accounting recognition of income or expenses and their inclusion in the taxable income of a subsequent financial year; 2° Adjustments and eliminations imposed on article R. 233-8, the restatements provided for in c of that article and in particular those induced by the use of the valuation rules of Article R. 233-10; 3° Tax loss carryforwards of companies included in…

In addition to the information provided for in articles L. 233-19, L. 233-23, L. 233-25 and by article R. 233-8, the notes to the financial statements include all material information that enables readers to form a fair assessment of the assets and liabilities, financial position and profit or loss of the group formed by the undertakings included in the consolidation.

Subject to providing proof in the schedule provided for in Article L. 123-12, the companies mentioned in 1° of Article L. 233-17 are exempt from the obligation to draw up consolidated accounts and a report on the management of the group when the following conditions are met: 1° The consolidated accounts of the larger body of undertakings, in which these companies are included, are drawn up in accordance with articles…

For the application of 2° of Article L. 233-17, the thresholds which must not be exceeded, under the conditions set out in this article, by the group formed by a company and the undertakings it controls are set as follows: 1° Balance sheet total: 24,000,000 euros; 2° Net turnover: 48,000,000 euros; 3° Average number of employees: 250. These figures are calculated globally for all the companies concerned using the method…

I. – The threshold provided for in I of article L. 233-28-1 is that set out in I of article D. 232-8-1. II. – The threshold provided for in II of article L. 233-28-2 is that set out in II of article D. 232-8-1. III. – The threshold provided for in 2° of III of Article L. 233-28-2 is that set out in III of Article D. 232-8-1. III.

For the purposes of preparing the income tax report referred to in Article L. 233-28-1, where the consolidating company and one of the controlled companies included in the consolidation, in accordance with Article L. 233-16, have activities which may be subject to income tax in the same tax jurisdiction, or where the consolidating company controls, within the meaning of that same article, several companies included in the consolidation which have…