Germany

Dieter Ordelheide

Chapter 5 in Accounting Regulation in Europe, 1999, pp 99-146 from Palgrave Macmillan

Abstract: Abstract The character of German accounting regulation has been predominantly legalistic since commercial law came into being with the unification of Germany in the second half of the nineteenth century. Until 1998 the rules of financial accounting were governed by the commercial code and, accordingly, had to be approved by Parliament. Thus, the traditional German model of accounting regulation differed significantly from countries where standards are approved by a private body or by government departments, or by some arrangement of governmental and private agencies which work together to develop and approve accounting rules. In May 1998, however, ammendments to the German Commercial Code (Handelsgesetzbuch, HGB) embedded the legal prerequirements for the establishment of a standard setting institution. Since then the German Accounting Standards Board (Deutscher Standardisierungsrat, DSR) has been founded, although the consequences for German accounting practice are not expected before 1999.

Keywords: Balance Sheet; Supervisory Board; Individual Account; Group Account; Employee Stock Option (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51201-6_5

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DOI: 10.1057/9780230512016_5

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