In the case of conversion, the provisions regarding incorporation of new legal form apply. However, the provisions regarding the minimum number of partners and capital contribution in kind do not apply to capital stock companies.
An interim balance sheet is prepared if:
- The period between the date the conversion plan is prepared and the balance sheet date is longer than 6 months or,
- There are significant changes in the assets of the company after the last balance sheet is prepared.
The interim balance sheet is prepared based on the principles and provisions applied to the annual balance sheet except for the following matters:
- There is no requirement to conduct physical stock take,
- The valuations applied in the preparation of the last balance sheet are changed to the extent of the transactions in the commercial books. Depreciation, valuation adjustments, provisions are also taken into account in the preparation of the interim balance sheet.
