Contabilidade e regras contábeis na Lituânia

Accounting Rules

Tax Year

The fiscal year begins on 1 January and ends on 31 December of the same year.

Accounting Standards

Commercial undertakings shall perform accounting and prepare financial statements in accordance with Lithuanian Business Accounting Standards (LBAS), which are applicable as of 1 January 2004. Undertakings whose securities are traded in the regulated markets, as of 1 January 2005 shall follow IFRS as adopted by the EU when preparing financial statements.
LBASs can be regarded as simplified and summarised translations of the corresponding IASs or IFRSs.

Accounting Regulation Bodies

LAAA

Accounting Reports

Accounting in a company can be performed by an internal accounting department or by a third-party company providing accounting services. Accounting registers can be maintained either as hard copies or in electronic form, but print outs are still required.
Accounting shall be made in EUR and in Lithuanian language.
Financial statements must include: balance sheet, profit and loss account, cash flow statement, statement of changes in equity.

Publication Requirements

Investment companies are required to file their annual statement with the Companies Registration Office.

Professional Accountancy Bodies

LAR , Lithuanian Chamber of Auditors

Certification and Auditing

The Lithuanian Chamber of Auditors is a public legal entity unifying all certified auditors of Lithuania. The Company Law describes conditions under which a company must have its financial accounts audited by a certified auditor: KPMG, Deloitte, Ernst & Young and PricewaterhouseCoopers.

Accounting News