Concours d'accès au stage d'expertise comptable — OECFM (Madagascar)

Under the Malagasy Plan Comptable Général (PCG 2005), which accounting principle requires that revenues and charges be recorded in the accounting period in which they are earned or incurred, regardless of the date of cash receipt or payment?

• AThe accrual principle (principe d'indépendance des exercices)
• BThe historical cost principle (principe du coût historique)
• CThe prudence principle (principe de prudence)
• DThe going concern principle (principe de continuité de l'exploitation)

Under PCG 2005, which of the following represents the correct accounting class structure for recording intangible and tangible fixed assets (immobilisations)?

• AClasse 2 (Comptes d'immobilisations)
• BClasse 1 (Comptes de capitaux)
• CClasse 3 (Comptes de stocks et en-cours)
• DClasse 4 (Comptes de tiers)

A Malagasy manufacturing company acquires industrial machinery on 1 April 2025 for 120,000,000 Ariary (excluding deductible VAT). Installation costs amount to 10,000,000 Ariary, and test run expenses are 2,000,000 Ariary. The machine has a useful life of 5 years with zero residual value and is depreciated on a straight-line basis. What is the depreciation expense recorded for the fiscal year ending 31 December 2025?

• A19,800,000 Ariary
• B26,400,000 Ariary
• C18,000,000 Ariary
• D24,000,000 Ariary

Under IAS 38 and PCG 2005, which of the following conditions must be satisfied before development expenditures (frais de développement) can be capitalized as an intangible asset?

• AThe entity demonstrates technical feasibility, intention and ability to complete and sell…
• BThe entity has secured external bank financing specifically dedicated to the development…
• CThe research phase has incurred at least 50% of the total projected costs of the project
• DThe intellectual property patent has already been officially granted by the national pate…

Under PCG 2005 and IAS 36, when an entity performs an impairment test on an item of property, plant, and equipment, how is the recoverable amount (valeur recouvrable) defined?

• AThe higher of fair value less costs to sell (juste valeur diminuée des coûts de sortie) a…
• BThe lower of fair value less costs to sell and historical net book value
• CThe discounted present value of expected future cash flows only
• DThe replacement cost adjusted for physical wear and tear

At year-end 2025, a company holds merchandise purchased for 50,000,000 Ariary. Due to obsolescence, the estimated selling price is 42,000,000 Ariary, and additional marketing and delivery costs to complete the sale are estimated at 2,000,000 Ariary. What is the net realizable value (valeur nette de réalisation) and the required provision for inventory write-down?

• ANet realizable value is 40,000,000 Ariary; write-down provision is 10,000,000 Ariary
• BNet realizable value is 42,000,000 Ariary; write-down provision is 8,000,000 Ariary
• CNet realizable value is 44,000,000 Ariary; write-down provision is 6,000,000 Ariary
• DNet realizable value is 50,000,000 Ariary; no write-down provision is permitted

Which inventory costing method is explicitly prohibited under both PCG 2005 and IFRS (IAS 2)?

• ALast-In, First-Out (LIFO / DEPS)
• BFirst-In, First-Out (FIFO / PEPS)
• CWeighted Average Cost (CUMP)
• DSpecific identification for non-interchangeable goods

Under IAS 37 and PCG 2005, which three cumulative conditions are required to recognize a provision for liabilities and charges (provision pour risques et charges)?

• AA present legal or constructive obligation from a past event, a probable outflow of econo…
• BA potential future obligation, a board resolution approving the provision, and a formal c…
• CA signed contract with a third party, an external bank guarantee, and ministerial approval
• DA past economic transaction, a certain cash outflow within 30 days, and zero estimation u…

Under the Malagasy PCG 2005 guidance, how are realized and unrealized foreign-exchange differences caused by exchange-rate changes recognized?

• AThey are recognized directly as financial expense for an exchange loss or financial incom…
• BUnrealized differences are held only in balance-sheet translation accounts, with gains ex…
• CThey are ignored until settlement, keeping monetary assets and liabilities at original hi…
• DThey are charged directly against share premium (prime d'émission) in equity

Under IFRS 16 (Leases), how must a lessee account for operating leases that have a term greater than 12 months without purchase option, compared to legacy treatment?

• ARecognize a Right-of-Use (ROU) asset and a corresponding lease liability on the balance s…
• BExpense lease payments linearly as operating rent expense in the income statement without…
• CRecognize the lease liability as off-balance sheet commitments in the notes only
• DCapitalize the lease payments directly into retained earnings

Under IAS 10 and PCG 2005, which of the following events occurring between the reporting date (31 December 2025) and the date the financial statements are authorized for issue (25 March 2026) is an adjusting event (événement donnant lieu à ajustement)?

• AThe settlement of a court case confirming that the entity had a present legal obligation…
• BA decline in the market value of equity investments held by the entity between January an…
• CThe destruction of a major production warehouse by a fire that occurred on 15 February 20…
• DThe announcement of a major corporate restructuring plan on 10 February 2026

What is the five-step revenue recognition model established under IFRS 15 (Revenue from Contracts with Customers)?

• AIdentify contract; identify performance obligations; determine transaction price; allocat…
• BReceive cash; issue commercial invoice; deliver merchandise; record VAT; transfer warrant…
• CEstimate gross margin; calculate cost of completion; bill client; discount receivables; v…
• DSign purchase order; approve production schedule; deliver goods; wait for payment confirm…

Under PCG 2005, when an entity constructs a tangible fixed asset for its own use (production immobilisée), how are the capitalized costs recorded?

• ADebit the appropriate fixed asset account in Classe 2 and credit Account 72 (Production i…
• BDebit Account 60 (Achats) and credit Account 512 (Banque)
• CDebit Account 101 (Capital social) and credit Account 21 (Immobilisations corporelles)
• DDebit Account 401 (Fournisseurs) and credit Account 70 (Ventes)

Under PCG 2005, which of the following financial statements is mandatory for entities using the normal comprehensive reporting system (système normal)?

• ABilan, Compte de résultat, Tableau des flux de trésorerie, Tableau de variation des capit…
• BBilan and Compte de résultat only, with voluntary disclosure of bank statements
• CBilan, Budget de trésorerie, and Déclaration fiscale 2005
• DLivre-journal, Grand-livre, and Balance générale only

A company purchases transport equipment on 1 January 2024 for 80,000,000 Ariary with a useful life of 5 years. It applies the declining balance depreciation method (amortissement dégressif) with a tax/statutory coefficient of 2.0. What is the depreciation expense for the second year (fiscal year 2025)?

• A19,200,000 Ariary
• B32,000,000 Ariary
• C16,000,000 Ariary
• D24,000,000 Ariary

What timing principle do IAS 20 and PCG 2005 apply to an investment grant (subvention d'investissement) related to depreciable industrial equipment?

• ARecognize the grant in profit or loss systematically over the periods in which the relate…
• BRecognized immediately as 100% operating revenue in the year of receipt
• CDeducted directly from social capital with no impact on future earnings
• DMaintained permanently in equity as non-distributable capital reserves

Under PCG 2005, how is a financial receivable denominated in foreign currency recorded at the transaction date?

• AAt the spot exchange rate in Ariary on the date of the transaction
• BAt the closing rate expected at the end of the fiscal year
• CAt the central bank's historical fixed parity rate of 2005
• DIn foreign currency without conversion into the national currency

An enterprise holds an item of machinery acquired for 60,000,000 Ariary with accumulated depreciation of 36,000,000 Ariary. At year-end, an impairment test reveals fair value less costs of disposal is 20,000,000 Ariary and value in use is 22,000,000 Ariary. What is the impairment loss to be recognized?

• A2,000,000 Ariary
• B4,000,000 Ariary
• C0 Ariary (no impairment)
• D16,000,000 Ariary

Under PCG 2005, which account in Classe 1 records legal reserves (réserve légale) set aside from annual profits?

• AAccount 111 (Réserve légale)
• BAccount 101 (Capital social)
• CAccount 120 (Résultat de l'exercice)
• DAccount 164 (Emprunts auprès des établissements de crédit)

Under PCG 2005, what is the accounting treatment for borrowing costs (coûts d'emprunt) directly attributable to the acquisition or construction of a qualifying asset (actif éligible)?

• AThey may be capitalized as part of the asset's acquisition cost if the construction requi…
• BThey must always be recorded directly as a reduction of share capital
• CThey must be deferred indefinitely on the balance sheet under non-amortizable assets
• DThey must be offset against client sales revenues

What is the standard statutory rate of Corporate Income Tax (Impôt sur les Revenus - IR) applicable to corporate net taxable profits in Madagascar under the Code Général des Impôts (CGI)?

• A20%
• B25%
• C30%
• D15%

Under the Malagasy CGI, what is the role and characteristic of the 'minimum de perception' for companies subject to Impôt sur les Revenus (IR)?

• AIt represents a statutory minimum tax payable by every taxable company, even in the event…
• BIt is an optional advance payment deductible from personal income tax
• CIt applies only to foreign multinational corporations in their first year of operation
• DIt is a refundable tax credit granted to companies investing in renewable energy

A Malagasy trading company subject to the real regime (régime du réel) generates a pre-tax turnover of 1,000,000,000 Ariary in 2025. Its accounting net profit is 15,000,000 Ariary. Tax adjustments show 5,000,000 Ariary in non-deductible expenses. The applicable minimum de perception for trading activities is 1,000,000 Ariary plus 1% of turnover. What is the total corporate income tax (IR) payable by the company for 2025?

• A11,000,000 Ariary
• B4,000,000 Ariary
• C10,000,000 Ariary
• D3,000,000 Ariary

Under the Malagasy Code des impôts effective for 2026, what annual turnover or gross-income threshold generally places an independent business within the Impôt Synthétique (IS) regime, absent an option for IR or the real regime?

• ATurnover or gross income less than 400,000,000 Ariary
• BTurnover less than 50,000,000 Ariary
• CTurnover or gross income less than 200,000,000 Ariary
• DTurnover less than 1,000,000,000 Ariary

What is the standard rate of Impôt Synthétique (IS) applied to the turnover of eligible small enterprises in Madagascar?

• A5%
• B10%
• C2%
• D20%

What is the standard statutory rate of Value Added Tax (Taxe sur la Valeur Ajoutée - TVA) in Madagascar under the CGI?

• A20%
• B18%
• C16%
• D25%

A VAT-registered manufacturing company in Antananarivo purchases raw materials for 60,000,000 Ariary (excluding VAT). In the same month, it sells finished products for 100,000,000 Ariary (excluding VAT). Both transactions are subject to the standard 20% VAT rate. What is the net VAT payable to the tax administration for that month?

• A8,000,000 Ariary
• B20,000,000 Ariary
• C12,000,000 Ariary
• D4,000,000 Ariary

Under the Malagasy CGI, which of the following expenses is explicitly excluded from VAT deductibility (TVA non déductible)?

• AVAT paid on the purchase of passenger vehicles (véhicules de tourisme) not used for trans…
• BVAT paid on raw materials directly incorporated into manufactured goods
• CVAT paid on industrial machinery used in factory production
• DVAT paid on electricity consumed by a commercial refrigeration plant

Under the Malagasy CGI, how are fiscal losses (déficits fiscaux) carried forward for Corporate Income Tax (IR) purposes?

• ACarried forward sequentially against taxable profits of up to five (5) subsequent fiscal…
• BCarried backward against the profits of the preceding three years (carry-back)
• CCarried forward indefinitely without any time limitation
• DCannot be carried forward and are forfeited at the end of the loss year

Which of the following expenses recorded in a company's accounts must be added back to accounting profit (réintégration fiscale) when determining the taxable income for Impôt sur les Revenus (IR)?

• APenalties and fines imposed by public authorities for traffic or tax infractions
• BSalaries paid to employees subject to IRSA withholding
• CDepreciation of production equipment within normal statutory limits
• DOffice supplies purchased with regular invoices showing vendor NIF and STAT

Under the Malagasy CGI, what is the nature and operation of the Impôt sur les Revenus Salariaux et Assimilés (IRSA)?

• AA progressive monthly withholding tax deducted at source by the employer from taxable gro…
• BAn annual wealth tax paid directly by company shareholders on the value of their shares
• CA payroll tax paid exclusively out of the employer's capital reserves with no deduction f…
• DA voluntary contribution paid by unionized workers to the social security fund (CNaPS)

Under the 2026 Malagasy Code des impôts, what general IRCM treatment applies to dividends received by a resident or non-resident shareholder?

• AThey are subject to IRCM at 20% after a 50% abatement of the dividend base, subject to an…
• BThey are wholly exempt under a general parent-subsidiary exemption
• CDividends are taxed at a punitive rate of 40% to prevent corporate concentration
• DDividends received must be donated to the state treasury

Under the Malagasy CGI, what withholding tax (prélèvement à la source / retenue à la source) rate generally applies to fees and royalties paid by a resident company to a non-resident foreign entity for technical assistance or services performed in Madagascar (in the absence of a bilateral tax treaty)?

• A10%
• B0%
• C25%
• D35%

Under Malagasy tax procedure (Livre des Procédures Fiscales / CGI), what is the statutory deadline for a taxpayer to submit written observations in response to a tax notification of reassessment (notification de redressement)?

• A30 clear days (30 jours francs) from receipt of the notification
• B10 days from the date of receipt of the notification
• C60 days from the date of receipt of the notification
• D90 days from the date of receipt of the notification

Under the Malagasy CGI, what is the general statute of limitations (délai de prescription) for the tax administration to audit and adjust Corporate Income Tax (IR) and VAT (TVA)?

• AThree (3) years following the year in which the tax was due
• BOne (1) year following the year in which the tax was due
• CTen (10) years following the year in which the tax was due
• DThirty (30) years under common civil law prescription

A company in Madagascar donates 10,000,000 Ariary to an officially recognized Malagasy charitable association. The company's annual turnover is 800,000,000 Ariary. Under the CGI, donations to recognized public interest organizations are deductible up to a statutory ceiling of 0.5% (5 per thousand) of turnover. What amount of this donation can be deducted for tax purposes, and what amount must be added back (réintégré)?

• ADeductible amount is 4,000,000 Ariary; amount added back is 6,000,000 Ariary
• BDeductible amount is 10,000,000 Ariary; amount added back is 0 Ariary
• CDeductible amount is 0 Ariary; amount added back is 10,000,000 Ariary
• DDeductible amount is 5,000,000 Ariary; amount added back is 5,000,000 Ariary

Under the Malagasy CGI, what is the tax treatment of the gain on disposal of a tangible fixed asset (plus-value de cession d'immobilisation) for an enterprise subject to IR?

• AIt is included in taxable business income and is subject to the standard 20% IR rate
• BIt is exempt from all corporate taxation under all circumstances
• CIt is taxed at a flat rate of 1% independently of operating profit
• DIt is credited directly to statutory reserves without appearing in taxable profit

What is the mandatory date by which companies subject to the real tax regime in Madagascar must file their annual financial and tax returns (liasse fiscale) for a fiscal year ending on 31 December?

• ANo later than 15 May of the following year
• BNo later than 31 January of the following year
• CNo later than 30 September of the following year
• DNo later than 31 December of the following year

Under Article IV-21 of the 2026 Malagasy Code des procédures fiscales, which description correctly states the general e-invoicing rule for a business sale or service?

• AUse an invoice generated by the tax administration's e-invoicing system, showing both par…
• BThe invoice must be stamped and validated by a registered notary public
• CThe invoice must be approved in advance by the regional tax inspector
• DThe invoice must be accompanied by a physical cash receipt signed by the bank manager

Two Malagasy businesses that are both subject to VAT settle a taxable supplier invoice entirely in cash. What follows from Articles 06.01.17 and 06.01.26 of the 2026 Code des impôts?

• AThe purchaser cannot deduct the related input VAT because qualifying input VAT requires b…
• BThe company receives a 10% cash discount credited to taxable profit
• CThe expense remains fully deductible if the supplier signs a handwritten receipt
• DThe payment is automatically transformed into a long-term loan

Under the Malagasy implementing rules for commercial companies, what is the minimum statutory share capital required to incorporate a Société Anonyme (SA)?

• A10,000,000 Ariary
• B2,000,000 Ariary
• C50,000,000 Ariary
• D1,000,000 Ariary

Which statement correctly defines a Société à Responsabilité Limitée (SARL) under Article 325 of Loi n° 2003-036?

• AIt may be formed by one or more persons; partners are liable for company debts only up to…
• BEvery partner is jointly and indefinitely liable for all company debts
• CIts capital must be divided into freely negotiable public shares
• DIt can be formed only by the Malagasy State and public bodies

Under Loi n° 2003-036, which of the following statements regarding the appointment of a Statutory Auditor (Commissaire aux Comptes) is correct?

• AEvery Société Anonyme (SA) must appoint at least one titular Commissaire aux Comptes, whe…
• BA Commissaire aux Comptes is strictly prohibited in a SARL under all circumstances
• COnly state-owned public enterprises are required to appoint a Commissaire aux Comptes
• DThe Commissaire aux Comptes is appointed by the Managing Director (Gérant) without shareh…

Under Loi n° 2003-036, what is the legal duration of the mandate of a Commissaire aux Comptes appointed in a Société Anonyme (SA) by the ordinary general meeting?

• ASix (6) fiscal years
• BOne (1) fiscal year
• CThree (3) fiscal years
• DIndefinite mandate terminable at will

Under Loi n° 2003-036, what proportion of annual net profit must be allocated to the legal reserve (réserve légale) in a commercial company, and up to what ceiling?

• A5% of net profit until the reserve reaches 10% of the share capital
• B10% of net profit until the reserve reaches 20% of the share capital
• C20% of net profit until the reserve reaches 50% of the share capital
• D2.5% of net profit until the reserve reaches 5% of the share capital

Under Loi n° 2003-036, what procedure must be followed if, due to accumulated losses recorded in the accounting documents, the equity (capitaux propres) of a Société Anonyme or SARL falls below half of the share capital?

• AThe board or manager must convene an Extraordinary General Meeting within four months of…
• BThe company is automatically dissolved by operation of law on the day the accounts are fi…
• CThe commercial court automatically seizes all company bank accounts and auctions off asse…
• DThe company's shares are immediately converted into sovereign treasury bonds