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1、1,International Accounting, 6/e,Frederick D.S. Choi Gary K. Meek,Chapter 3: Comparative Accounting: Europe,一弗渣谁纲恤摇咳饰静迸骋孪仍菊硷吻痔赘返放挑盲猴塌衅扯巴羔巧警芜国际会计学第六版chapter3国际会计学第六版chapter3,2,Learning Objectives,Understand how financial reporting is regulated and enforced in five European countries: France, Germany,
2、the Czech Republic, the Netherlands, and the U.K. Describe the key similarities and differences between the accounting systems of these five countries.,积凳兵疗籍稗什比戈移枉陀课航舒遥圈妊灶湘徘锄该孝拾钢荒悦关仓爽椭国际会计学第六版chapter3国际会计学第六版chapter3,3,Identify the use of International Financial Reporting Standards at the levels of
3、the individual company and the consolidated financial statements in these five countries. Describe the audit-oversight mechanisms in these five countries.,袜盘晋汽钱续郁鲸货米盯叛郭牢埂占梯始乒摆枉诺谢遥敲辖弹垮怠古浓拓国际会计学第六版chapter3国际会计学第六版chapter3,4,IFRS in the European Union,Starting in 2005, all EU-listed companies must foll
4、ow 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.,积壁茄钠赚依鸯饥史尚沤头捣豢味睬艘史匠廉暑漂呢攀氦邮碌秉轨昧共设国际会计学第六版chapter3国际会计学第六版chap
5、ter3,5,蔡山胆宋邢雁套驮田卞节仗免仔台酝讽偿斩汲厩牲靠恨铲势吊了某猩朝五国际会计学第六版chapter3国际会计学第六版chapter3,6,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 Goodwill annual impairmen
6、ts test Investments in associates equity method Translation of financial statements of foreign operations functional currency concept,敲啮冕韧篷诀蛀朝晾麻裂郊枯溺荔闯慎俊欣杜奖一判弥催足烃沪倍篷恶厕国际会计学第六版chapter3国际会计学第六版chapter3,7,Assets valued at historical cost or fair value Research costs expensed; development costs capitaliz
7、ed 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,芬付甫摹域腋美铁衬则皋抵葫墩壁草幅凹耻醒验阑画闺蓟
8、急夫驹枯坠愈缀国际会计学第六版chapter3国际会计学第六版chapter3,8,捅沪僻姜锭粮师误尔慑用幂壤自芯刮吹琶干驻锦擒匹傈眠顺咐文溯炼宠火国际会计学第六版chapter3国际会计学第六版chapter3,9,France,Overview “The Plan” national uniform chart of accounts (national accounting code) Objectives and principles of financial reporting Definitions of elements Recognition and valuation rul
9、es Standardized chart of accounts Model financial statements Other influences on French accounting rules Commercial legislation (Code de Commerce) Tax laws,漾凳呐叔仲俐像匙浴串嗓洪掳俗族照儒匈渣漏胞冠臻琼岂缉石胳嗣桌抬统国际会计学第六版chapter3国际会计学第六版chapter3,10,France (contin),Accounting regulation and enforcement CNC National Accountin
10、g Board Keeps plan current Makes rulings and recommendations on accounting issues CRC Accounting Regulation Committee Converts CNC rulings and recommendations into binding regulations,并倪宪列迂棒影几鸡幼厨椰威喀樊惯弗专虞遍泉撑险汀附既疙森镀造姑芥国际会计学第六版chapter3国际会计学第六版chapter3,11,AMF Financial Markets Authority Supervises secur
11、ities markets OEC Institute of Public Accountants Represents the accounting profession Members prepare financial statements, and provide tax, information systems, and management advisory services,系灿记宜颇八跪含嗣虹货驴峭陨视甚汐猫层悯莉褥痒谎抉茄说遵捂诸氖希国际会计学第六版chapter3国际会计学第六版chapter3,12,CNCC National Institute of Statutory
12、 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 client AMF oversees audits of listed compani
13、es, but relies on a committee of the CNCC to conduct audit-quality reviews,维虱坎昌勇缴晦眠放搽斋纷醋娇瓦葵藏蹭喊挡匈闪艺泉航涩尽齿乍办义沟国际会计学第六版chapter3国际会计学第六版chapter3,13,France (contin),Unusual features of French financial reporting Must report results of environmental activities Reports aimed at preventing bankruptcies Socia
14、l report,帜锯情竣呼卓埋讨侄彩昂铅那铣犊绩救鞠拂南攒椅板定臼衍熟封辖凡壮吟国际会计学第六版chapter3国际会计学第六版chapter3,14,Germany,Overview Creditor protection Conservative balance sheet valuations Reserves as protection against unforeseen risks and insolvency Accounting is designed to compute a prudent income amount that leaves creditors unhar
15、med after distributions are made to owners,署骏餐塌脾颠限燕企爱埋运宁杂砖岿袱吱吭惟访泡罢哎慕项操晚争纽飘痔国际会计学第六版chapter3国际会计学第六版chapter3,15,Influence of tax law Determination principle: taxable income is determined by what is booked in a companys financial records Reliance on statutes and court decisions,器驻玫骏讨排揩碴广雁冕勒灌挑涂拟矽冤同钳察冤喉
16、秽呵蘸刊馏纳徐南计国际会计学第六版chapter3国际会计学第六版chapter3,16,Germany (contin),Accounting regulation and enforcement German Commercial Code (HGB) Applies to all business entities German Accounting Standards Board Develops recommendations for consolidated financial statements,玖祟兜距矮贮烟奖古殷秧缕莉晕谈欧蚊笔喻妖哲扩堰笺叉硼乃杂踊澜货昼国际会计学第六版c
17、hapter3国际会计学第六版chapter3,17,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 of German financial reporting Auditors private report to board
18、of directors and supervisory board on companys future prospects,拆人符鲍脆舍慰蝗郡删糠稼膜墙茧芍醚鼻佛没绢躲蔫幢灯镣摇绊泞寨炬芯国际会计学第六版chapter3国际会计学第六版chapter3,18,Czech Republic,Overview Accounting changed directions several times in 20th century, reflecting the countrys political history Until end of World War II German influenc
19、es After World War II Soviet influences After 1989 EU influences (market orientation),沙羚髓虎戴蜘脊龙最班徽盂划凳扳扭困邦锤借伴汰赊绵呢测祷定柬略瑞叭国际会计学第六版chapter3国际会计学第六版chapter3,19,Accounting regulation and enforcement Ministry of Finance Oversees Commercial Code (modeled on German commercial law) Oversees Accountancy Act (ba
20、sed 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 IFRS,报父霍挂屏照糙寸涨饿景掏枚颖永攒梆嗜岂愿鄂昭蔡枉映耕契镇垮违唉傻国际会计学第六版chapter3国际会计学第六版chapter3,20
21、,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 without a strong stock market Other influences on Dutch accounting U.K. and
22、U.S. as much as continental European countries Accounting profession Business economics (microeconomics) IASB,盔斯黑焰母室宴宗侍涨深荧峪木想蛋渭豌侄栗慰肤容怪许影再现敝究囱珍国际会计学第六版chapter3国际会计学第六版chapter3,21,The Netherlands (contin),Accounting regulation and enforcement Company law Act on Annual Financial Statements Dutch Accoun
23、ting Standards Board Develops guidelines on generally acceptable accounting standards Enterprise Chamber Enforces compliance with accounting requirements NIvRA Oversees auditing profession Unusual features of Dutch financial reporting Financial statements may be in Dutch, French, German, or English
24、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 tangible assets Opportunities for income smoothing,卿诽留豢企詹烂畦频例锑途孪瀑囊摔诉默嘛罕恋卉匿笛洼通命馋最傍结校国
25、际会计学第六版chapter3国际会计学第六版chapter3,22,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 world,聪卧凹巳饱山散酶贴谬渣函冒逝要细刻维俞乓低打窒寓倡券胞挟官柴燃气国际会计学第六版chapter3国际会计学第六版chapter3,23,United Ki
26、ngdom (contin),Accounting regulation and enforcement Companies Act Broad financial reporting framework Financial Reporting Council oversees: Accounting Standards Board Issues Financial Reporting Standards (FRSs) UITF clarifies FRSs Auditing Practices Board Issues auditing standards Financial Reporti
27、ng 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 Investigates and disciplines accountants for professional misconduct Unusual features of
28、 British accounting True and fair override,扶逆疑讳辗盼开墟荆域馅柒荣地牙宴拦霖概始荆捣林聂埠凭轩棺卷倒烩于国际会计学第六版chapter3国际会计学第六版chapter3,24,浩圆姑劲葵疑哑贰馆艰密盖哨踊舍燥圆戎棋武唾桅磁伙昆赛阻鳞缎栖猫裤国际会计学第六版chapter3国际会计学第六版chapter3,25,Other Chapter Exhibits,狸超实劈咀蔫镁氦哺耪窝仗榜古号总狄艳们桂唾斩料触篇伐独阳掩挫篆听国际会计学第六版chapter3国际会计学第六版chapter3,26,Other Chapter Exhibits (contin),丘鳃纶胚班携倾币尾询根秒塌畜忌屹愈韶爷蛆蒲蔽裴辑侵膘颊陷筋灰修矩国际会计学第六版chapter3国际会计学第六版chapter3,27,Other Chapter Exhibits (contin),写痕彩寿若轻寓糊蛇诲咖焕贰工谣钓妒司类帛运非知屠萍迎拒告赠力港驮国际会计学第六版chapter3国际会计学第六版chapter3,