Comptabilitat al Líban

Accounting Rules

Tax Year

The fiscal year begins on 1 January and ends on 31 December of the same year. Exceptions are allowed, such as when a parent company has a special fiscal year.

Accounting Standards

Lebanon has adopted the IFRS standards in accordance with Decree No.1/6258, dated 21 August 1996, over a three-year period. Nonetheless, the Law No. 27 (1980) still requires all commercial entities (except for banks) to follow a unified chart of accounts, prompting companies to file both in accordance with IAS and the accounting and reporting requirements in Law No. 27

Accounting Regulation Bodies

BDL

Accounting Reports

Annual financial reports must be realised in accordance with the standards in force. They must therefore include:
- a balance sheet
- a profit and loss account
- notes to the accounts
- a cash flow statement.

Publication Requirements

All financial intermediation institutions must publish their financial statements annually, their balance sheets linked to their operations and their accounts, which must reflect their real financial situation.

Professional Accountancy Bodies

LACPA , Lebanese Association of Certified Public Accountants

Certification and Auditing

The control of accounts is compulsory and must be made by an auditor independent of the company. This independent auditor must be registered by the Lebanese Association of Certified Public Accountants and the Middle East Society of Associated Accountants or be a member of the IASC.

Accounting News