Amendment notice no. 21 consists in postponing, by two years, the date of application of the updated PCSI, initially scheduled for 1is January 2023 by Opinion No. 20 cited above. This postponement will allow operators in the real estate sector to have additional time to adapt their management procedures and upgrade their information systems and internal control systems.
This postponement would also allow players in the sector, in particular those listed on the Casablanca Stock Exchange, to carry out studies of the impact of the update on their financial indicators.
Thus, the accounting rules provided for by the updated PCSI will be applicable from 1is January 2025, the statement concludes.
As a reminder, this chart of accounts mainly concerns the methods of accounting and the rules for evaluating the turnover and inventory of real estate developers. In more detail, notice no. 20 provides that only sales contracts signed with customers will generate recognition as revenue. As saying that this clarification will limit revenue forecasts by some real estate developers.
This should also translate into an improvement in ratios and in particular the collection period, knowing that any final sale results in payment by the buyer of the price of the property.
Ce change of method should not have a significant impact on the results of real estate developers who only translate actual sales into income.