33 from walton haller and raffournier 1998 30 the

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Unformatted text preview: Royal decrees; The opinions issued by the Commission des Normes Comptables (CNC) (Commission on accounting standards). Tax laws. The accounting profession, to a lesser extent. France The main characteristic of the institutional structure of accounting in France, by comparison with the anglophone world, is the role of the state in accounting regulation. The particularly original feature of this is the Plan Comptable Général (PCG – general accounting plan). Supervision by the state, does not, however, prevent actors in the private sector, particularly from the profession, from exercising a significant influence. 33 From Walton, Haller and Raffournier (1998). 30 The objectives attributed both explicitly and implicitly to the French accounting system show that, as far as the accounting of individual companies is concerned, the function of providing a summary of transactions, particularly in relation to fiscal and social obligations, has priority over the decision usefulness of accounting information. Consolidated accounts, on the other hand, are disconnected from taxation, and to a certain extent from the rules applicable to individual accounts, and have, in contrast, an implicit objective of satisfying the information needs of the financial markets. They also represent the effects of int...
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This note was uploaded on 05/02/2013 for the course ECONOMIC economics taught by Professor Economics during the Fall '13 term at Elmont Memorial High School.

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