Reasons for Differences in European Financial Reporting

Marcela Žárová ()
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Marcela Žárová: University of Economics, Prague

Chapter Chapter 33 in New Trends in Finance and Accounting, 2017, pp 355-360 from Springer

Abstract: Abstract Despite the fact that European-listed companies adopted IFRS since 2005 for their consolidated accounts at least, European countries have all retained their national accounting systems. This paper brings comparison of two approaches in financial reporting based on legal systems. Facts that come from the comparison of British approach against Continental European one not necessarily bring a clear view which approach is better. Therefore, there should be considered the question of whether the state or the accountancy profession should be the strongest influence in determining the rules and practice of financial reporting.

Keywords: Legal system; Accounting differences; Continental European approach; British approach (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-49559-0_33

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DOI: 10.1007/978-3-319-49559-0_33

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