Accountancy

In France, individual companies engaged in a liberal activity are subject to the Non-Commercial Profit (BNC) regime. However, their tax regime defines their accounting obligations The controlled disclosure regime requires that treasury records based on a bank journal (revenue - expenditure) and a record of fixed assets and depreciation The micro-BNC regime, which concerns only companies with a turnover of less than € 32 900 excluding tax, is identical in terms of accounting for the micro-BIC scheme seen above. Consolidation of accounts in case of significant influence When a company is under the supervision of a parent company, its accounts must be consolidated using the equity method. It is a question of substituting shares of the consolidated companies in the assets of the consolidating company. To do so, it is sufficient to replace the book value of the shares of the consolidated company with the share of the consolidating company's capital and then to take it back i...

Like any other legal form of company, the sole proprietorship involves the keeping of accounts. For best accountancy training  Best school of accountancy In Lahore .  However, the obligations differ according to the nature of the activity carried out but also according to the chosen tax regime. Here's what to help you see more clearly. The accounting obligations of the sole proprietorship under the BICs In France, individual companies engaged in commercial, industrial or artisanal activities are subject to the Industrial and Commercial Benefits (BIC) regime. However, it is their tax system that really determines their accounting obligations. The normal regime applicable to companies with a turnover exceeding € 783,000 excl. VAT (sales activities) or € 236,000 (excluding VAT) (service activities), confers the obligation to keep full accounts. Thus, all movements impacting its assets must be recorded, invoices must be drawn up and an annual inventory is compulsory. The...

After you stop the annual accounting of a company, it is important to do what is called consolidation of accounts. There are three different methods that we will present to you today. If it is advisable to use the expertise of an accounting firm to perform this kind of practice, it is still possible to apply these methods yourself. Consolidation of accounts in the event of exclusive control When the accounts of an enterprise are managed exclusively by a consolidating company, they must absolutely be integrated. This involves putting together all the accounts of the companies, regardless of the percentage of interest. To do this, we must combine the accounts to define the total amount of the items of assets and liabilities from the balance sheet and then delete the transactions and reciprocal accounts. Then you divide the equity and the result for the year of consolidated companies to distribute these funds. Care must also be taken to remove the shares in the consolidating com...

Often referred to in the media in recent weeks, for best accountancy training Best school of accountancy In Lahore . the withholding tax is the new method of collecting the income tax that will soon adopt the French State. Withholding tax will be for the State to have the amount of tax deducted by a third-party payer before the taxpayers are paid taxable income. For the employees, it is the employer who will be responsible for collecting the tax directly on the income which means that they will receive less money but also that they will return less to the State. As is already the case for social security contributions, the amount deducted for income tax will be the subject of a line on the payroll. A reform that will affect all households After a few discussions, it is ultimately all French people who are affected by this method of collection since wages, replacement income (retirement, unemployment, etc.) or land revenues will be subject to withholding tax. Source. As f...