#MarketRebound The accounting system for companies consists of:

1. The provisions of Law No. 96-112 of December 3, 1996, apply to any natural or legal person required to maintain accounting records.

2. The Tunisian accounting conceptual framework establishes the basic concepts underlying the preparation and presentation of financial statements for external use and constitutes a reference framework for the Council and the Ministry of Finance for the review and development of Tunisian accounting standards.

3. Accounting standards include a general accounting standard, technical standards, and sector-specific standards.

Companies subject to the provisions of Law 96-112 must keep accounting records that include a general journal, a general ledger, and an inventory book, and they are required to prepare a trial balance. The general journal and the inventory book must be numbered and initialed by the judge of the court of first instance at the company's registered office. These books are kept chronologically, without any blanks or alterations. They are kept, along with their supporting documents, for ten years.

The financial statements include the balance sheet, the income statement, the cash flow statement, and the notes to the financial statements. These financial statements form an inseparable whole.

Full text of the Tunisian accounting standards.