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Accounting & Bookkeeping
Are you in one of the following situations?
- Are you planning to establish a business or entity in Luxembourg?
- Do you run one or more companies in Luxembourg?
- Do you have to coordinate, control and report accounting compliance on a multi-territory basis?
- Are you planning to restructure or liquidate your current business?
All these situations often raise complex accounting issues, especially given the increasingly tough nature of the corporate, fiscal, social and regulatory environment.
PwC Luxembourg can offer you high-quality, relevant expertise and comprehensive solutions that go beyond traditional accounting services, and can become your trusted advisor, working with you to reach your goals.
Have a look at our accounting services and discuss your needs with us!
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Challenges faced by Alternative investment accounting
Here are the Top 5 alternative investment accounting challenges. Watch our video to know more.
Accounting and finance operations services for Alternative Investments
We can assist you at each level of your structure (investment level, SPV level and Fund/Top entity level) and at each step of the company life cycle, from incorporation to liquidation for Luxembourg based entities and also foreign entities in close collaboration with the PwC network.
Our Services
Bookkeeping & reporting
What your needs may be:
- Maintain your bookkeeping on a regular basis;
- Ensuring that you have the right expertise in the accounting regulatory environment, including the latest updates and developments;
- Reducing the time you spend on reporting, and meeting your deadlines;
- Understanding the full accounting impact on specific accounting principles;
- Enhancing the application of your group accounting and reporting policy;
- Minimising audit overruns.
We can assist you with your Lux GAAP reporting by:
- Taking care of the bookkeeping and preparing the periodical reports and consolidation package under Lux GAAP, IFRS or US GAAP;
- Setting up your chart of accounts under Lux GAAP, as well as the accounting methods and policies that are most suitable to your business;
- Maintaining your books and records in accordance with the accounting framework (Lux GAAP, IFRS, US GAAP, etc.);
- Preparing/reviewing your accounting entries/year-end entries;
- Converting your trial balance to Lux GAAP accounting principles;
- Preparing/reviewing your group accounting manual to ensure that it complies with a specific GAAP;
- Preparing/reviewing your forecasts, cash-flow statements, etc.;
- Preparing/reviewing your central bank reporting and any other reporting (e.g. cost accounting, INREV reporting, etc.) required by legislation;
- Liaising with your auditors (including preparing audit trails);
- Providing tax accounting services;
- Ensuring global coordination from Luxembourg.
GAAP conversion
What your needs may be:
- Converting from your local GAAP to Lux GAAP (and vice versa);
- Ensuring that the trial balance used for preparing financial statements is in line with the GAAP used (e.g. Lux GAAP or IFRS);
- Ensuring that you have the right expertise in the accounting regulatory environment, including the latest updates and developments.
To ensure an efficient and effective approach and conversion, we can support you with:
- Converting your trial balance from a foreign GAAP (e.g. UK GAAP, US GAAP, etc.) to Lux GAAP or IFRS (or vice versa) by designing/reviewing your GAAP conversion file;
- Analysing the key differences between your foreign GAAP and Lux GAAP;
- Understanding the impact on tax and distributable reserves;
- Designing/reviewing your GAAP conversion file.
Preparing and compiling annual accounts
What your needs may be:
- To prepare your annual accounts;
- To be aware of the latest updates and developments in accounting law that have an impact on the notes to your company's annual accounts;
- To have your balance sheet and profit and loss account in the adequate e-CDF format.
We can assist you in drawing up your annual accounts by:
- Preparing/reviewing your balance sheet and profit and loss account in e-CDF format or another layout (e.g. management format);
- Preparing/reviewing your notes to the annual accounts;
For information on preparing the legal documentation for the approval of your annual accounts and for filing them electronically with the Luxembourg Trade and Companies Register, click here
Consolidation
There's much more to consolidation than compliance with regulatory obligations. Consolidation is a powerful tool to analyse a group's financial performance. It provides insights and supports the strategic decisions of top management and investors.
Discover moreAccounting training
What your needs may be:
- To keep your team up to speed with the latest updates and developments in accounting law or the accounting framework (Lux GAAP, IFRS, etc.);
- To refresh basic knowledge;
- To gain expertise in specific technical topics (foreign exchange, liquidation, mergers, etc.).
We can support you in assessing and improving your accounting skills based on your needs:
- Wide range of accounting training courses on specific topics, for specific industries or on the latest legislative updates;
- Tailored in-house training courses;
- Workshops tailored to your exact needs.
Accounting technical helpline
We can support you in applying and interpreting complex accounting standards and regulations by putting in place an accounting helpline. We will be able to answer any questions you may have, in the format you prefer – by phone, by email or by providing you with detailed memoranda on:
- The accounting impact of new and/or amended standards and future transactions planned;
- Specific accounting treatment, such as mergers, contributions, group restructuring, classification, etc.
How are we distinctive?
- We have industry specialists: our tax, accounting and advisory experts share the same office space and meet regularly to share industry trends and best practices;
- We invest heavily in technology and automation to maximise efficiency and we work with tools to manage the status of all deliverables, which is accessible at all times by our clients;
- We are part of an international network and we can support and coordinate all accounting and tax compliance services from Luxembourg (Global and EMEA);
- We have considerable accounting expertise in a variety of accounting frameworks: our teams go on intensive training courses and refreshers on IFRS / Luxembourg GAAP and are trained on tax and accounting across all industries.
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