French Statutory CoA
Hi,
Requirement: The French regulation dictates that we have a separate CoA for French operations. French LE will then also require another ledger for statutory reporting purpose. The parent company is based in US and will require that the French CoA to map to the Parents Global CoA for consolidation purposes.
Proposed Resolution: A ledger constitutes of 4 C’s which are as follows:
- 1. Calendar
- 2. Currency
- 3. Chart of Accounts
- 4. Accounting Convention
Primary Ledger: The primary ledger will be based on the French CoA which we will define to ensure compliance with the French regulations. All the sub-ledgers will pass entries on to the primary books.
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