Financial accounting a la Francaise

Article Abstract:

The European Economic Community (EEC) is attempting to compromise in reaching mutually acceptable accounting standards. British accountants are accepting financial statement formats dictated by the French, and French accountants are learning to comply with the British tradition of presenting a "true and fair view" of accounts. Because the French have used governmentally mandated financial statement formats since 1947, the compromise seems practical for all nations concerned. The accounting rules and regulations being considered for adoption by the EEC are contained in the Plan Comptable Generale (general accounting plan) written by France's Conseil National de la Compatabilite (national accounting council), which is a government body in France. The French accounting rules and systems of accounts are detailed.

European Union, European Economic Community, Europe, Western

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Decade of change for French accounting

Article Abstract:

The implementation of the fourth and seventh directives of the European Commission have had a significant impact on French accounting. The implementation of the fourth directive in 1984 eliminated the distortions of depreciation by placing them in an 'extraordinary category'. The implementation of the seventh directive in 1986 permitted larger companies not to use the fourth directive rules and depreciation methods, but instead to produce group accounts under the generally accepted accounting procedures of countries with whom they were trading. Firms were allowed to capitalize leases, provide for deferred taxation, and use the Last-In-First-Out method for stocks. This 'group accounting law' disconnects accounting from the French tax system and the national planning system left over from World War II.

European Union. European Commission

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Which way to the common ground?

Article Abstract:

Accountancy magazine recently conducted a survey of accounting research in the UK. The purpose of the study was to discover areas of research that are of interest to both accounting practitioners and researchers, and to reveal the constraints on the exchange of information between the two groups. A questionnaire was sent to both practitioners and researchers. The response rate from practicing accountants was too low to give statistically reliable results. The responses from the academic community indicated that there was a low correlation between research that was considered to be academically significant and research that would be of use to the business community.

Research, Surveys, Accountants, Accountancy (Periodical)

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