Article R123-175 of the French Commercial code
November 6, 2023
Journal entries are recorded in the general ledger and broken down according to the chart of accounts.
Journal entries are recorded in the general ledger and broken down according to the chart of accounts.
The daybook and general ledger are broken down into as many subsidiary journals and subsidiary ledgers as the needs of the business require. Entries made in the journals and subsidiary ledgers are centralised at least once a month in the daybook and general ledger.
The inventory is the annual check of the existence and value of all assets and liabilities at the balance sheet date. Inventory data is kept under the conditions provided for in article L. 123-22 and organised in such a way as to justify the content and valuation method of each balance sheet item.
For the application of article L. 123-18 : 1° The acquisition cost is equal to the purchase price plus the ancillary costs necessary to put the asset into a usable condition; 2° The production cost is equal to the acquisition cost of materials consumed plus direct expenses and a fraction of indirect production expenses: interest on capital borrowed to finance the manufacture of a fixed asset may be included in…
The classification of balance sheet and income statement items and the list of information contained in the notes to the financial statements may be adapted by business sector by a regulation of the Autorité des normes comptables. Annual accounts may be presented with cents disregarded.
Company assets and liabilities are classified according to their purpose and origin. Items intended for long-term use in the company’s business constitute fixed assets.
The assets side of the balance sheet, the model for which is established by a regulation of the Autorité des normes comptables, shows the following items in succession: 1° Under fixed assets: intangible fixed assets, tangible fixed assets and financial fixed assets; 2° Under current assets: Inventories and work-in-progress, advances and deposits paid on orders, receivables, marketable securities and cash;
Participations are rights in the capital of other legal entities, whether or not evidenced by securities, which, by creating a lasting link with them, are intended to contribute to the business of the company holding them. Securities representing more than 10% of the capital are presumed to be equity holdings.
The amount of loan repayment premiums is entered on the assets side of the balance sheet under the corresponding heading. It is amortised systematically over the term of the loan in accordance with the terms and conditions set out in the notes to the financial statements. Under no circumstances may premiums relating to the portion of loans repaid be retained in the balance sheet.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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