Following a request by the Nationwide Federation of Actual Property Builders (FNPI) and a evaluation by the Nationwide Accountancy Council (CNC), the implementation of the accounting plan for the actual property sector shall be delayed till January 1, 2025.

The Minister of Financial system and Finance, Nadia Fettah Alaoui, as President of the CNC, issued, in reference to the Decree No. 2.88.19 on the institution of the CNC, Conclusion No. 21, which enhances and amends the Conclusion No. ° 20, which pertains to the replace of the chart of accounts for the actual property sector, so as to represents a postponement of its software to January 1, 2025, a plan that was initially scheduled to take impact on January 1, 2023.

This determination was made following the request of the FNPI in correspondence No. 2696 of July 22, 2022, which can enable sector operators to create the mandatory stipulations to assist the updates made to the Chart of Accounts for actual property accounting. Sector, particularly after consideration by the CNC throughout its 88th assembly held on December 20, 2022, the press launch famous.

This delay may also enable gamers within the sector, particularly these listed on the Casablanca Inventory Change, to hold out research on the influence of the stated replace on their monetary efficiency, the identical supply stated.

It ought to be famous that the chart of accounts of the actual property sector was up to date by the CNC in June 2022. enterprise and shares of builders. This was finished after the CNC obtained a letter from Financial institution Al-Maghrib requesting its opinion on these issues.

To be able to promote the actions of builders listed on the inventory change, the Nationwide Land Safety Company has supplied them with administrative alternatives to determine land possession. Certainly, these land rights will be the topic of securities listed on the inventory changeCNC added in its chart of accounts report launched in June.

After these objects, it was famous that through the evaluation of the abstract experiences of builders listed on the inventory market by credit score organizations, the strategies of accounting for turnover and stock, in addition to their guidelines of valuation divergence from one promoter to a different, which doesn’t present uniform accounting and monetary info, the identical supply famous.

This challenge was raised throughout a gathering of the Coordination and Monitoring Committee on Systemic Dangers, devoted to the examine of dangers arising from the actual property sector. This committee, established by the Banking Legislation, consists of BAM, the Division of Treasury and Exterior Finance, the Moroccan Capital Market Authority and the Insurance coverage and Social Safety Management Authority.

In keeping with BAM, SPIs are accounting in accordance with the provisions of the accounting plan for the actual property sector, which offers that “solely the revenue earned on the cut-off date of the monetary yr can have an effect on the outcomes”. As an exception, partial proceeds from a transaction not accomplished on the cut-off date that meets the situations established by CGNC shall be deemed to have been obtained.

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