PCN 2020: implementing the new Standard Chart of Accounts (S1251) - distance learning

Provide a practical analysis of the differences between the current and the future version of the SCA. Such knowledge should allow the attendant to identify the impacts (accounting and statutory F/S) of the SCA for its accounting practices, and to update the later; subsequently, to use appropriately the flexibility left by the 2020 SCA.

• Update on the sectoral and individual filing exemptions for the Standard Chart of Accounts (SCA).
• The 2009 version of the Standard Chart of Accounts.
• The draft Grand-Ducal Regulation, dated June 22, 2018:
  • the weaknesses of the SCA's original version for the public administrations
  • the discrepancies with the Accounting law (changes in law occured in 2013 and 2015)
  • the remedies to the above issues in the said draft regulation, including the automatically generated B/S and P/L (eCDF)
• The related eCDF electronic documents.
• The available explanatory materials.
• Analysis of the differences between the current SCA and the 2020 SCA, i.e. accounts that will be created; suppressed; merged; split; transferred to an other caption of B/S or P/L.
• Illustrative examples of accounting treatments (before and after):
  • acquisition cost of assets
  • gain/loss on disposals of assets
  • non-distributable reserves
  • results of the year
  • investment subsidies
  • payroll expenses
  • other operating income/expenses
  • deferred taxes
  • etc.
• The mapping from the SCA to the F/S ("Tableau de passage"):
  • a new component of the F/S filing package;
  • an new allowance for flexibility?
• Foreseeable impacts of the 2020 SCA on LUX GAAP for:
  • the public administrations;
  • the other users.