Financial Accounting System and IAS / IFRS

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The Law 07-11 of November 25, 2007 is about a new financial accounting system whose entry into force is settled for January 1, 2010. This new system replaces the PCN, which is used since 1975 and whose application will end on December 31, 2008.

Globalization and the opening of the Algerian economy, with the signing of the Association Agreement with the EU and the adjustments made for its entry to the WTO has led Algeria to establish a new accounting system based mainly on the new international financial reporting standards (Ias– Ifrs).
Ias – Ifrs standards are issued by the IASB. They were adopted by many countries in the world, as well as the EU, the main economic partner of Algeria.
The implementation of the new financial accounting system requires a good understanding of the conceptual framework of Ias - Ifrs.
All the companies must take necessary actions in preparation to comply with the mandatory rules introduced by the new accounting system. Training of staff accountants is essential for all businesses.
To help you apply successfully the financial accounting system, which will be mandatory, beginning of January 1, 2009, we offer our services to train your staff, and to assist you in the process of implementing for the first time the new system.
The most complex operation in the implementation of the financial accounting system is its first application. This major operation should not be underestimated, because it determines the success of the implementation. Its failure will generate important costs.
We possess all the resources to help you achieve successfully the implementation of the new accounting system.
The companies must anticipate problems and start preparing now.
Do not be late, act quickly.

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