France is a major supporter of national uniformity in the accounting world. Ministry of National Economy approved the General Plan Comptale (national accounting code) is the first official in September 1947. In the Year 1986, renana expanded to implement the provisions in the EU Seventh Directive on consolidated financial statements and further revised in 1999. Comptable General Plan contains:
o The objectives and principles of accounting financial reporting seta
o the definition of assets, liabilities, shareholders equity, revenue and expense recognition and assessment atauran
o list of standard accounts, provision for its use, and other bookkeeping provisions examples of presentation of financial statements and rules
The special feature is the presence of accounting in France dichotomy between the separate financial statements of companies with the financial statements are consolidated business group. Although the accounts of the separate companies must meet the mandatory reporting provisions, the law allows French companies to follow International Financial Reporting Standards.
In the early 1970s, the European Union (EU) began to issue a harmonization directive, which must be adopted by member states into national law. EU directive fourth, seventh, eighth entirely into German law through the Comprehensive Accounting Act which came into force on December 19, 1985
The third fundamental characteristic of Accountancy in Germany is its dependence on the statutes and court decisions. Besides those two things that have no binding status or authority. To understand accounting in Germany, one must mmerhatikan HGB and legal frameworks related cases.
The main feature of the financial reporting system in Germany is a personal statement by the auditor to the company’s management board and supervisory board of the company, for the purpose of consolidation, all firms in the group must use the accounting and valuation principles are the same.
Accounting and Financial Reporting in Japan reflects the combined influence of various domestic and international, to understand Japanese accounting, one must understand the culture, business practices and history of Japan. Firms – Japanese firms belonging akuitas share with each other, and often jointly own other companies. These investments are interlocked industrial conglomerate that produces meraksasa – known as keiretsu
Keiretsu venture capital, is in line with changes in the Japanese structural reforms to overcome economic stagnation that began in the 1990s. The financial crisis that followed the breakup of the Japanese bubble economy is also pushing for a thorough evaluation of the Japanese financial reporting standards.
Accounting in the Netherlands has some interesting paradox. The Netherlands has the provision of accounting and financial reporting are relatively permissive, but the standards for professionalism is very high. The Netherlands is the country code of law, but accounting-oriented fair presentation. Financial reporting and tax accounting are two separate activities.
Dutch accounting is willing to consider ideas from outside. The Netherlands is one of the first supporters of the international standards for accounting and financial reporting, and the IASB statement received great attention in determining acceptable practice.
British heritage is very important for the world. Britain was the first country in the world to develop the accounting profession as we know it. The concept of presenting the results and financial position of the natural (true and fair view) is also from England.
Britain to allow both methods of acquisition and mergers in the accounting records for the merger. However, the conditions of the merger method of use is so tight that it almost never used. In 2003, the Department of trade and Industry announced that starting in January 2005, All UK companies are allowed to use IFRS, in addition to GAAP
Accounting in the United States governed by the Private Sector (Badab GAAP / FASB), until 2002 the American Institute for Certified Public Accountants.
The consolidated financial statements and financial statements shall be published in the U.S. typically does not include only the parent report alone. Consolidation rules require that all subsidiaries that are controlled (ie, with holdings that exceed 50 percent of the shares with voting rights) should be consolidated in full, although operations were no longer homogeneous. Interim financial statements (quarterly) is required for a company whose shares are listed on major stock exchanges. This report usually contains only a summary financial statements are unaudited and management are briefly commented.
After understanding some of the accounting systems in some developed countries just as described above, it can be concluded that there are similarities and differences between them. This is due to historical factors and accou