French generally accepted accounting principles

The French generally accepted accounting principles, called Plan Comptable Général (PCG) is defined by the regulation n°2014-03 written by the Authority of Accounting Rules (Autorité des normes comptables, abbr. ANC), from the committee in charge of the accountancy reglementation, update 14 December 2007. validated by the Minister of the Budget. The Authority of Accounting Rules was created by the ordonnance no 2009-79 and combines the functions of the prior CRC and CNC.ordonnance no 2009-79, using French GAAP in French Wikipedia and ANC in French Wikipedia for interpretation

Content

Review of the subjects and principles of accountancy; Definitions of the main concepts: balance sheet, income statement and annexes, liability and asset, income, loss and profit, and a presentation of accountancy and valuation rules; List of account maintenance rules and accounts nomenclature; Description of various accounting documentation; Summary of special accounting rules.

Accounts classification

Balance Sheet AccountsProfit and Loss AccountsSpecial AccountsClass 1Class 2Class 3Class 4Class 5Class 6Class 7Class 8Equity and Liabilities AccountsAsset AccountsInventory AccountsThird-Party AccountsFinancial AccountsExpense AccountsRevenues AccountsSpecial Accounts10. Capital and reserves20. Intangible assets40. Providers50. Securities60. Purchases (except 603)603. Stocks variation70. Finished goods salesNon '1 to 7' classes11. Accumulated retained earnings21. Tangible assets31. Raw materials (and furnitures)41. Customers51. Banks and financial organizations61. External Services71. Finished goods12. Profit or loss for the financial year22. Assets under concessions32. Others Materials42. Employees52. Treasury tools62. Other external services72. Works capitalised (in asset)13. Equipment grants23. Asset under construction33. Work-in progress goods43. Social costs53. Petty-cash63. Taxes14. Regulated provision34. Work-in progress services44. Tax authority54. Imprest accounts64. Employees costs74. Production grants15. Accruals35. Stocks16. Loans and debts17. Debts linked to shareholdings27. Other financial assets37. Resaling Stocks47. Suspense accounts67. Exceptional costs77. Exceptional revenues18. Liaison accounts for shareholding companies28. Assets depreciations48. Regularisation accounts58. Internal Transfer68. Depreciations and accruals78. Write-back on depreciation and provisions29. Impairments39. Stocks Depreciation49. Third-Party accounts Depreciation59. Financial accounts Depreciation69. Employees profit-sharing - Earnings Tax79. Costs transfers

References