These are the new developments that will affect the annual accounts at the closing of the 2023 financial year
Posted: Tue Dec 17, 2024 10:34 am
We describe the main regulatory, valuation and adjustment factors that affect the 2023 financial year-end.
In this article, we are going to explain how to approach the accounting closing with an eye on the changes. We will tell you what the new features in the annual accounts that will be coming in the near future may be, although the context of 2023 is one of regulatory stability.
Three years have passed since the last reform of the General Accounting Plan.
Learn first-hand about
costa rica email list all the new developments that may affect the accounting closing of your business.
The 2023 financial year-end does not feature any major changes in the annual accounts . The last reform dates back to 2021. However, this does not mean that it is advisable to ignore the long-term evolution of accounting regulations.
Start of marked textSHARE! The accounting closing is a key moment for company accounting. Take note of the regulatory context and the new developments in the annual accounts!End of marked text
In general, it is clear that the best thing to do is to anticipate changes as much as possible and follow the probable evolution of accounting regulations. And, to do so, sharing efforts with other professionals and companies can be the best solution. Having a platform like Sage for Accountants facilitates collaboration and the exchange of information between professionals, allowing for faster and more effective adaptation to regulatory changes and client needs.
The latest reform of the General Accounting Plan dates from 2021 and applies to the financial years that began after January 1 of that year. Therefore, it was already applied in previous accounting closings. Although there are no major developments on this occasion, the context of the reform should lead to some monitoring for various reasons:
The latest accounting reform addresses the question of whether or not it is necessary to adapt (and to what extent) the General Accounting Plan to the evolution of the International Financial Reporting Standards applied by the European Union (IFRS-EU).
IFRS-EU are subject to evolution with a good number of changes every relatively short period of time.
Behind the reforms are both technical debates and the need to adapt to an environment that is changing relatively quickly.
Generally speaking, IFRS-EU only applies to the consolidated accounts of listed companies .
However, the philosophy of the changes in IFRS may be transferable at some point to the General Accounting Plan and, therefore, affect all types of companies, including SMEs.
In general, the reforms that reach SMEs are sought to be balanced , which requires benefits of some kind that compensate for the effort involved in the accounting change.
The fact that more and more SMEs are becoming international suggests that other new features of the IFRS-EU will probably be applied to the General Accounting Plan in the future .
In this article, we are going to explain how to approach the accounting closing with an eye on the changes. We will tell you what the new features in the annual accounts that will be coming in the near future may be, although the context of 2023 is one of regulatory stability.
Three years have passed since the last reform of the General Accounting Plan.
Learn first-hand about
costa rica email list all the new developments that may affect the accounting closing of your business.
The 2023 financial year-end does not feature any major changes in the annual accounts . The last reform dates back to 2021. However, this does not mean that it is advisable to ignore the long-term evolution of accounting regulations.
Start of marked textSHARE! The accounting closing is a key moment for company accounting. Take note of the regulatory context and the new developments in the annual accounts!End of marked text
In general, it is clear that the best thing to do is to anticipate changes as much as possible and follow the probable evolution of accounting regulations. And, to do so, sharing efforts with other professionals and companies can be the best solution. Having a platform like Sage for Accountants facilitates collaboration and the exchange of information between professionals, allowing for faster and more effective adaptation to regulatory changes and client needs.
The latest reform of the General Accounting Plan dates from 2021 and applies to the financial years that began after January 1 of that year. Therefore, it was already applied in previous accounting closings. Although there are no major developments on this occasion, the context of the reform should lead to some monitoring for various reasons:
The latest accounting reform addresses the question of whether or not it is necessary to adapt (and to what extent) the General Accounting Plan to the evolution of the International Financial Reporting Standards applied by the European Union (IFRS-EU).
IFRS-EU are subject to evolution with a good number of changes every relatively short period of time.
Behind the reforms are both technical debates and the need to adapt to an environment that is changing relatively quickly.
Generally speaking, IFRS-EU only applies to the consolidated accounts of listed companies .
However, the philosophy of the changes in IFRS may be transferable at some point to the General Accounting Plan and, therefore, affect all types of companies, including SMEs.
In general, the reforms that reach SMEs are sought to be balanced , which requires benefits of some kind that compensate for the effort involved in the accounting change.
The fact that more and more SMEs are becoming international suggests that other new features of the IFRS-EU will probably be applied to the General Accounting Plan in the future .