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Simplified presentation of financial statements: new thresholds from 2011

Until now, companies could opt for a simplified presentation of their balance sheets and their income statements from as they did not exceed two of three following thresholds (see Articles L123-16 and R123-200 of the Code of Commerce):

• 267,000 euros total assets ,
• 534,000 euros figure Business ,
• 10 employees.

The Accounting Standards Authority (NCA) has substantially raising the thresholds. Now (2011), companies can adopt a simplified presentation of their annual accounts if 2 of the 3 following thresholds are not met:

• 1,000,000 euros of total assets,
• 2000 .000 euros in turnover,
• 20 employees.

In contrast, the new regulations of the ANC does not alter the thresholds for the presentation of the simplified schedule that remain:

• 3.65 million euros of total assets,
• 7.300.000 euros of turnover,
• 50 employees.

Finally, remember that at tax (2011), firms are subject to simplified tax if their turnover does not exceed (art. 302 bis of the seven A-General Taxes, CGI):

• 777,000 euros for purchases and resale-housing supplies,
• 234,000 euros for services.

Therefore, companies can present their annual results in the simplified form (see printed cerfa No. 2033-2033-A and B, whose presentation is similar to the simplified accounting model).

the Press of Adafec (http://adafec.blogspot.com)