Germany from the beginning german accounting was

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Unformatted text preview: ernationalization on French accounting. 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. Germany 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.

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