Commission Regulation (EC) No 1653/2004 Article 54

Article 54

In accordance with the principle of accrual-based accounting, the financial statements shall show the charges and income for the financial year, regardless of the date of payment or collection. The value of assets and liabilities shall be determined in accordance with the valuation rules laid down by the accounting methods referred to in Article 59.

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04

CitationArticle 54 of Commission Regulation (EC) No 1653/2004 (LawPlayer, data as of 2026-07-04)

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