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French accounting regulations have their origins in legal and statutory instruments as well as
in opinions (avis) issued by the Conseil National de la Comptabilité and the regulatory orders
of the newly created Accounting Regulation Committee. Aside from the public authorities,
the Ordre des experts-comptables (OEC - Institute of Public Accountants) and the Compagnie
Nationale des Commissaires aux Comptes (CNCC – Institute of Statutory Auditors) also play
an important role in terms of doctrine and accounting practices through the recommendations
they make to their members.
From the beginning, German accounting was regarded as a matter of law. The predominant
purpose of accounting was to show the wealth of an entity, primarily to enable creditors to
evaluate their risks. As a consequence, the balance sheet has therefore been, up to now, the
predominant financial statement. Another effect of this focus on protecting creditors is the
overall principle of conservatism.
Accounting in Germany is stil...
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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.
- Fall '13
- The Land