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1. The budgetary accounts shall provide a detailed record of the financial implementation of the 11th EDF resources.

2. The budgetary accounts shall show all:

(a) allocations and the corresponding 11th EDF resources;

(b) financial commitments;

(c) payments; and (d) established debts and collection operations for the financial year, in full and without any adjustment against each other.

3. When commitments, payments and debts are expressed in national currencies, the accounting system shall make it possible, where necessary, for them to be recorded in national currencies as well as in euros.

4. Global financial commitments shall be recorded in euros for the value of the financing decisions taken by the Commission. Individual financial commitments shall be recorded in euros at the equivalent of the value of the legal commitments. That value shall include, where appropriate:

(a) provision for the payment of reimbursable expenses on presentation of supporting documents;

(b) provision for the revision of prices, for the increase in quantities, and for contingencies as defined in contracts funded by the 11th EDF;

(c) financial provision for exchange rate fluctuations.

5. All accounting records referring to the fulfilment of a commitment shall be kept for a period of five years from the date of the decision giving discharge in respect of the financial implementation of 11th EDF resources, referred to in Article 44, concerning the financial year during which the commitment was closed for accounting purposes.