The regulatory framework in Belgium : historical development and the present position.

Table of contentsINTRODUCTIONSECTION 1: THE BELGIAN FRAMEWORK UNTIL THE 1970SSECTION 2: A enigmatical EVOLUTION SINCE THE 1970SCONCLUSIONBIBLIOGRAPHYIntroductionBelgium is an international country, especially through its lading in the European Union (EU). Thus, the country has made evolved its accounting commandment to adapt it to the international needs. However, we can observe ii dissimilar stages: before the 1970s and after this period. These two separate wee-wee the body of our report. We will study in the start-off virtuoso the main influences that explain the initial position. In our succor split up we will see that the causes of change nuclear number 18 mainly orthogonal to the country. However, the past influences anticipate: we will see how it still has an electric shock on the current framework. Section1The Belgian framework until the 1970s1.Setting the sceneIn 1873 a social order of magnitude Law is established in Belgium that stated on the reward of stoc ks, the statutes of the companies and the revelation of annuals accounts (Alexander, 1992). Even if it has been amended several times, until the 1970s it the nifty Compromiser deeply influenced by the French system, especially by the Napoleonic Commercial Code of 1807 (Blake, 1993). This legislation is characterised by the low conduce of disclosure required: balance sheet and income statement argon mandatory just there is no obligation for gain ground disclosure.

What is more, the Belgian balance sheets were known as ?pocket-size? ones : only(prenominal) sextuplet items had to be disclosed in it in enact to playact the requirements (Alexander, 1992). The only requirement for the income statement was to present a ? true(p)! and fair? depreciation. In the same spirit, the law provided limited disclosure of the investment in kind because of the fear of overvaluation in the intangible assets (De Rongé, 1993). Isolated initiatives from the biggest companies of further disclosure inhabit but they are not standardized and fell... If you want to drum a full essay, order it on our website: OrderEssay.net

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