FEE publishes fact sheet on the new June 2013 Accounting Directive

20 January 2014

The 2013 Accounting Directive provides the legal framework for single company and consolidated accounts for undertakings based in the EU that must be transposed into the national legislation of each Member State by 20 July, 2015.

The 2013 Directive is a re-cast of the 4th and 7th Directives rather than a complete conceptual rewrite. Consequently, many of the provisions and, indeed, text in the 2013 Directives have been carried over from the 4th and 7th Directive:

Fundamental accounting principles

Items presented in the financial statements must be recognised and measured in accordance with the following general principles:

However, there are Member State options in respect to certain of these principles:

FEE-fact sheet