Management training

Accounting principles and essentials in Luxembourg Lux GAAP training

This accounting training is aimed at business leaders and employees who wish to master the basics of Luxembourg accounting according to the accounting principles generally accepted in Luxembourg Lux Gaap. Knowledge of general accounting and usual accounting transactions will allow you to know how to read a balance sheet.

Training duration

1 day

Training price

840 EUR w/oVAT

Training level

Beginner & intermediate

Information needs

What are the Luxembourg accounting obligations the Lux GAAP ?

What are the available dates for this training?

Billetterie Weezevent
Digits Solutions est un organisme de formation professionnelle continue (FPC) établi au Grand-Duché de Luxembourg et membre de lifelong learning

Digits Solutions is a continuing professional training organization (FPC) established in the Grand Duchy of Luxembourg and member of lifelong learning. Our training courses are eligible for aid and subsidies such as co-financing of training.

Why learning the essentials of Luxembourg accounting GAAP?

A business manager, director, employee, partner or shareholder of a company in Luxembourg, it is important to know how to read annual accounts:● Your own accounting: knowing how to analyze it to draw useful conclusions in terms of management● Your customers and competitors annual accounts are useful for adapting your business relationships.Then, you need to master some essential concepts that we will be discussed during this training.

training on general accounting accounting principles Lux Gaap : how to read Luxembourg's annual accounts?

Training objectives

The objective of this training for participants is:● Know the principles and main accounting rules applicable in Luxembourg● Understand the accounting entries of sales, purchases, immobilization and closure (provision, inventory, valuation ...)● Know how to read a balance sheet and an income statement and its annexes● Be able to analyze the main ratios of the company to know the associated risks● Collect information for better customer and vendor analysis

Participant profiles

This training is mainly aimed at:● Employees, chief accountant, accountants and accounting assistants,● To officers● To entrepreneurs● To independent directors, partners and shareholders● Sales and purchasing managersThis training is also useful for people who will be involved in establishing budgets to understand accounting impacts.

How to read a balance sheet? What are the accounting and Luxembourg principles?

This training will allow you to know the accounting principles and the rules for recording transactions in the books of companies to produce annual accounts. These financial statements are published in the Trade and Companies Register (RCSL). Here is the training schedule:

Accounting principles and obligations: useful information

● Role of accounting and legal obligationsDouble-entry accounting● The organization of accounting: supporting documents, books, ledgers, general balance, chart of accounts...● The concept of accounting exercise● Importance of financial information for the company● Details of the information contained in the annual accounts / financial statements: the balance sheet, the income statement (profit and loss account) and the appendices

The balance sheet or the picture of the company's situation

Review of the main active and passive balance sheet items:● Investments,● The stock,● The debts,● Availability,● The share capital and reserves,● Provisions,● The debts● Active and passive adjustment accountsThe participant will know the role and the concepts of piloting for each of these positions.

The income statement or the film of the activity over a period

Review of the main income statement items:● Expenses: accounting, payment and different types of expenses,● Products: accounting, receiving payments and different types of products● Salaries● Taxes and other chargesThe participant will master the important concepts to make relevant analyzes of these categories.

Main specific accounting concepts

Accounting:● Tangible fixed assets● Financial fixed assets● Depreciation and impairment● Stocks● Income and expenses recognized in advance● ProvisionsThese transactions are also called inventory entries because they often take place only once a year as part of the preparation of annual accounts.

The usefulness of the annual accounts

The accounting of a company and its annual accounts are a wealth of information:● Analysis over time● The concept of aged customer scales● The important ratios● Measuring financial health● Possible analysis biases● Additional information

Accounting, key points reminder

Accounting is a science of numbers but not only:● The importance of non-financial data● Financial reporting is an art● New developments in accounting, auditing● Automated analysis of accounting documents● The different types of accounting: general accounting, cost accounting...● The impact of accounting standards


At the end of this training, you will have the main accounting rules for establishing annual accounts and the various related documents. Points concerning the news: 2020 accounting plan (PCN2020) and RCSL, eCDF tools...

Additional information

The training location

This training is provided in Luxembourg City.
Digits Solutions

29 bd Grande Duchesse Charlotte
L-1331 Luxembourg

The trainers

Our trainers are experienced professionals, entrepreneurs or accountants familiar with management constraints in companies.All of them have significant experiences and skills that they wish to share in the field of digital transformation of businesses.

Training's language

This training will be given in English. Training materials will be available in English.

Training pedagogy

This training is interactive. The technical elements proposed during the training are illustrated by examples and practical cases.

Training material

Participants will receive the course material at the start of the training.

Training certificate

This training is not evaluated. A certificate of attendance can be sent on request after the training to the participants present.

Who are we?

Consulting company, chartered accountant and continuing professional training in Luxembourg France Europe

We are an accounting firm and a professional training organization that uses innovations to develop. We are implementing certain digital tools, the result of technological advances, to automate tasks and take advantage of the digital transition for the benefit of companies wishing to anticipate changes related to digital.We support our clients in this change by training managers and employees in the impacts of digital tools as well as highlighting the opportunities, difficulties and limits of digital.