Accounting

The National Accounting Council has approved interpretation I-46

At its meeting on 18 June 2021, the National Accounting Council approved the text of interpretation I-46 Accounting for a released and settlement share in a limited liability company and a settlement share in a cooperative.

The goal of this interpretation is to unify the accounting for a released and settlement share for scenarios based on legislation for a released and settlement share, primarily as contained in § 36 and §§ 212-215 of the Act on Commercial Corporations (“ACC”).

The text of the interpretation is available on the NAC’s website here.