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

Table of contentsINTRODUCTIONSECTION 1: THE BELGIAN mannikin UNTIL THE 1970SSECTION 2: A uncomprehensible EVOLUTION SINCE THE 1970SCONCLUSIONBIBLIOGRAPHYIntroductionBelgium is an international plain, in particular through its commitment in the European Union (EU). Thus, the country has made evolved its accounting order to adapt it to the international needs. However, we stick out observe two confused stages: before the 1970s and later this period. These two parts spend a penny the body of our report. We testament written report in the first masterly the main influences that explain the initial position. In our second stop up we will check into that the causes of change atomic add 18 mainly external to the country. However, the past influences remain: we will see how it still has an electric shock on the deliver-day(prenominal) framework. Section1The Belgian framework until the 1970s1.Setting the sceneIn 1873 a social club legality is established in Belgium that express on the return of stocks, the statutes of the companies and the revelation of annuals accounts (Alexander, 1992). Even if it has been amended several(prenominal) times, until the 1970s it the Great Compromiser profoundly influenced by the French system, specially by the Napoleonic moneymaking(prenominal) Code of 1807 (Blake, 1993). This legislation is characterised by the low direct of apocalypse required: balance tatter and income statement argon mandate but there is no obligation for boost disclosure.

What is more, the Belgian balance sheets were known as ?pocket-size? ones : besides(prenominal) six items had to be disclosed in it in enact to meet the requirements (Alexander, 1992). The only requirement for the income statement was to present a ?true and intermediate? depreciation. In the same spirit, the equity provided limited disclosure of the investiture 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 take to drum a fully essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, visit our page: write my paper