Following the introduction of Legislative Decree n. 139/2015, the framework of the financial statements drown up according to the requirements set forth by the Civil Code has been significantly modified.
The entire set of domestic accounting standards has therefore undergone a deep review and revision in order to comply with new legislative requirements.
The OIC (Italian standard setter) has published the draft version of a modified standard dedicated to accounting policies, changes in accounting estimates and errors.
Document attached:
OIC-29-Bozza-per-la-consultazione_track-changes
The introduction of new accounting policies by Legislative Decree 139/2015 falls under the provisions of new OIC 29 “Accounting policies, changes in accounting estimates and errors”. The standards clearifies how to account for the changes deriving from new accounting policies and how to classify previous year’s figures for comparison purpose.