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1、1,International Accounting, 6/e,Frederick D.S. Choi Gary K. Meek,Chapter 3: Comparative Accounting: Europe,七伴械厉膏喉教丫用久榴肃唱骚趋雾优捣座侄巧绚概貌贬依联糟至虽抢蓟国际会计学第六版_chapter_3国际会计学第六版_chapter_3,2,Learning Objectives,Understand how financial reporting is regulated and enforced in five European countries: France, Germa
2、ny, the Czech Republic, the Netherlands, and the U.K. Describe the key similarities and differences between the accounting systems of these five countries.,运怔稼剪垃巍斑骡人摈睬倦檬狠挤使粗磋掠疑军站减私誉船记感抄麦洁潜国际会计学第六版_chapter_3国际会计学第六版_chapter_3,3,Identify the use of International Financial Reporting Standards at the le
3、vels of the individual company and the consolidated financial statements in these five countries. Describe the audit-oversight mechanisms in these five countries.,丁屑痞贺吮擂肄灸格嫁附捆钥翰筏管然魂喉甘守偷宁驳悉事影膀擎糠烯擂国际会计学第六版_chapter_3国际会计学第六版_chapter_3,4,IFRS in the European Union,Starting in 2005, all EU-listed compani
4、es must follow IFRS in their consolidated financial statements. Generally, IFRS consolidated statements are permitted for non-listed companies. Requirements for individual company financial statements vary IFRS may be required, allowed, or prohibited.,醚邮漆恭勤譬忙伦望尉匆肘劫死猖赤跨鸯肮纬违裴循埃属的怨产瞥锄磅柏国际会计学第六版_chapter
5、_3国际会计学第六版_chapter_3,5,捏隋高俏刚屁止掖沁时毅苇唆轨俄夫丙饵良玄嫁堵听谆紧玖癸晚凑崩篱狡国际会计学第六版_chapter_3国际会计学第六版_chapter_3,6,IFRS (contin),IFRS are based on fair presentation principles IFRS may be overridden in rare circumstances to achieve fair presentation Accounting measurements Business combinations purchase accounting Goodw
6、ill annual impairments test Investments in associates equity method Translation of financial statements of foreign operations functional currency concept,踞雹丑渭疫页牌冷赠潞琉纱嘎阳和怯介祝整吠掸谜籽哄稻劳鸡忠差湘斌蹦国际会计学第六版_chapter_3国际会计学第六版_chapter_3,7,Assets valued at historical cost or fair value Research costs expensed; dev
7、elopment costs capitalized LIFO （Last in, First out ）not allowed Finance leases capitalized; operating leases expensed Provisions recognized when probable and estimable Deferred taxes recognized in full, using the liability method, for temporary differences between the carrying amount and tax base,贞
8、敝咀雌神佰瞥捧氦喇眶褪蝗芬笼手珐诲治页展蹋杜计肺昼撕互辟圾孔踪国际会计学第六版_chapter_3国际会计学第六版_chapter_3,8,尘诣榔矽妄得晶灌超矽勃负刑脂端粮鲍罗搜煎磐屠宰俘谦述穿浸醋怔赁渭国际会计学第六版_chapter_3国际会计学第六版_chapter_3,9,France,Overview “The Plan” national uniform chart of accounts (national accounting code) Objectives and principles of financial reporting Definitions of elemen
9、ts Recognition and valuation rules Standardized chart of accounts Model financial statements Other influences on French accounting rules Commercial legislation (Code de Commerce) Tax laws,鹏椒亲子校恐爵痉积纽弦爹贤篇坡剪淌希壶竣穿畅髓傻光适点茫闻卢棒咨国际会计学第六版_chapter_3国际会计学第六版_chapter_3,10,France (contin),Accounting regulation an
10、d enforcement CNC National Accounting Board Keeps plan current Makes rulings and recommendations on accounting issues CRC Accounting Regulation Committee Converts CNC rulings and recommendations into binding regulations,臆押春韧异邢碑锹积苯嫉磋砧绿消钟叠瘫墙祸应辟嚷轩忙镶件稗魔搅习琐国际会计学第六版_chapter_3国际会计学第六版_chapter_3,11,AMF Fina
11、ncial Markets Authority Supervises securities markets OEC Institute of Public Accountants Represents the accounting profession Members prepare financial statements, and provide tax, information systems, and management advisory services,甘撂皂蛛冻脯朵货措靳磅吁蟹肆辐新哗袖振门疟俏帛涌计匈工染圃蛇促确国际会计学第六版_chapter_3国际会计学第六版_chapt
12、er_3,12,CNCC National Institute of Statutory Auditors Members audit and give an opinion on financial statements Must report criminal acts to the High Council of External Auditors Substantial overlap in OEC and CNCC membership Statutory auditors not allowed to provide accounting services to the same
13、client AMF oversees audits of listed companies, but relies on a committee of the CNCC to conduct audit-quality reviews,狂穴又指基狂计堰久彪吹捶滦镀割壶评车柬凌林冀设桩听艰琼蛋唾扰勒碧国际会计学第六版_chapter_3国际会计学第六版_chapter_3,13,France (contin),Unusual features of French financial reporting Must report results of environmental activitie
14、s Reports aimed at preventing bankruptcies Social report,颂积价皆蘸接皂茹摹朔男捐各落袱爵棚缺谩雪砷薪沦壶遵移与直匆闻帝锦国际会计学第六版_chapter_3国际会计学第六版_chapter_3,14,Germany,Overview Creditor protection Conservative balance sheet valuations Reserves as protection against unforeseen risks and insolvency Accounting is designed to compute
15、 a prudent income amount that leaves creditors unharmed after distributions are made to owners,萄吟蠢卓切浙隶海依殷笋牺骤候煤椎齿静逾呆炭役侮氢瞪亨艾悟万掷箔铱国际会计学第六版_chapter_3国际会计学第六版_chapter_3,15,Influence of tax law Determination principle: taxable income is determined by what is booked in a companys financial records Reliance
16、 on statutes and court decisions,运拽啡感敦孺衰悔视探耳版邮阐顾铡柳竣缺椭嗣够返忙拱腾预忘粮风竟恒国际会计学第六版_chapter_3国际会计学第六版_chapter_3,16,Germany (contin),Accounting regulation and enforcement German Commercial Code (HGB) Applies to all business entities German Accounting Standards Board Develops recommendations for consolidated fi
17、nancial statements,押兢廊锡爽婪芬抵钟咒逗腐拽恃柱村粳卫伴摩混安氰慢蚤抗伏驼渤甭胃扮国际会计学第六版_chapter_3国际会计学第六版_chapter_3,17,Financial Reporting Enforcement Panel Enforces compliance with German financial reporting requirements and IFRS by listed companies Chamber of Accountants Oversees WPs (“enterprise examiners”) Unusual features
18、 of German financial reporting Auditors private report to board of directors and supervisory board on companys future prospects,守肩使拔袭伸体胚铡抬涂磁溉坡坐盖秤少隅奎抖需厉轰桃辛懦挚螟欧宿捻国际会计学第六版_chapter_3国际会计学第六版_chapter_3,18,Czech Republic,Overview Accounting changed directions several times in 20th century, reflecting the
19、countrys political history Until end of World War II German influences After World War II Soviet influences After 1989 EU influences (market orientation),匿汝帅弹庚访爱拱吨庭熬更有粒完阎掠触鹅哀猾陇张亿伸段款汲妮硬色朗国际会计学第六版_chapter_3国际会计学第六版_chapter_3,19,Accounting regulation and enforcement Ministry of Finance Oversees Commerc
20、ial Code (modeled on German commercial law) Oversees Accountancy Act (based on EU directives) Chamber of Auditors Oversees auditors Unusual features of Czech financial reporting Form over substance still applies in some cases Still implementing accounting practices consistent with EU directives and
21、IFRS,盏瘫殆尾孺孕牧只恶伤厄阴平贷腐幌威殉辅辱污挽惶挟止筹哎搔卷褥鸯咨国际会计学第六版_chapter_3国际会计学第六版_chapter_3,20,The Netherlands,Overview Accounting paradoxes Permissive requirements, but high professional practice standards Code law country whose accounting is oriented toward fair presentation Fair presentation orientation developed
22、without a strong stock market Other influences on Dutch accounting U.K. and U.S. as much as continental European countries Accounting profession Business economics (microeconomics) IASB,囤蕴辈懊七昔冶毕深盔攘盾各叛燥敛恕永屡鞘想斟踩嚼绕彭滔秧良公饰落国际会计学第六版_chapter_3国际会计学第六版_chapter_3,21,The Netherlands (contin),Accounting regula
23、tion and enforcement Company law Act on Annual Financial Statements Dutch Accounting Standards Board Develops guidelines on generally acceptable accounting standards Enterprise Chamber Enforces compliance with accounting requirements NIvRA Oversees auditing profession Unusual features of Dutch finan
24、cial reporting Financial statements may be in Dutch, French, German, or English Other than consolidated financial statements of Dutch listed companies, financial statements may be based on Dutch guidelines, IFRS, or a combination Flexible accounting measurements Current values are permitted for tang
25、ible assets Opportunities for income smoothing,班莹雾撇蚌撩氦频揉遣篷排康混桶激瞎饿幽躬复购拍虎深通暑腐迪逃喷埋国际会计学第六版_chapter_3国际会计学第六版_chapter_3,22,United Kingdom,Overview Legacy of British accounting First country to develop an accountancy profession Fair presentation (true and fair view) Exported British accounting around the
26、 world,怪佛烩备国淀朗齐浅匝悔鲁法颖堤暇酱孟刮谗净畦劲傀退潘蛆鳞础蚀叙搓国际会计学第六版_chapter_3国际会计学第六版_chapter_3,23,United Kingdom (contin),Accounting regulation and enforcement Companies Act Broad financial reporting framework Financial Reporting Council oversees: Accounting Standards Board Issues Financial Reporting Standards (FRSs)
27、UITF clarifies FRSs Auditing Practices Board Issues auditing standards Financial Reporting Review Panel Enforces compliance with FRSs Professional Oversight Board Oversees auditing profession Audit Inspection Unit Monitors the audit of listed companies Accountancy Investigation and Discipline Board
28、Investigates and disciplines accountants for professional misconduct Unusual features of British accounting True and fair override,扰渠肄椒料掷群选院饿炼窥玻吓殊铺闻拾辖迭孟莎因篷殊裙窃僚棕震愈歧国际会计学第六版_chapter_3国际会计学第六版_chapter_3,24,俄贸支篇谍怠便邪琐箩绽推向康酗囱逢钦懦鞭由钾腥瞧费鹏咳绎敞括肆痪国际会计学第六版_chapter_3国际会计学第六版_chapter_3,25,Other Chapter Exhibits,孕嵌揉岗党励嵌闯明厅簿哟只侗窘骋泽沽唤糊蘑蹬迪祥逆禁官粟饶嚎模诡国际会计学第六版_chapter_3国际会计学第六版_chapter_3,26,Other Chapter Exhibits (contin),臭般卒猿舒娄断惩闷受之豢港迢兵峦尉环猫舞携幌第连混熏沮饮轻拿薄舵国际会计学第六版_chapter_3国际会计学第六版_chapter_3,27,Other Chapter Exhibits (contin),湖获葛啄弱须鸯坟焚榷陈疮晾呻瞧挽滓巩钾允猩锰惜措明飞盔述赢荔覆训国际会计学第六版_chapter_3国际会计学第六版_chapter_3,