The new financial statement

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Directive 2013/347EU contains important rules on the new European financial statement set which can allow cost reduction, transparency and comparability improvement and easier access to credit to European entities. In addition, the new requirements bring the European accounting framework one step closer to the international accounting best practice. The Directive has been introduced in our domestic system through Legislative Decree n. 139/2015, which refers to financial statements starting from 1 January 2016. Considering that article 2423-ter, fifth paragraph, implies the presentation of both balance sheet and profit&loss figures compared with the preceding year, it will be mandatory to adopt the new rules in 2015 financial statements for comparison purpose.

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