Table of contentsINTRODUCTIONSECTION 1: THE BELGIAN FRAMEWORK UNTIL THE 1970SSECTION 2: A enigmatical EVOLUTION SINCE THE 1970SCONCLUSIONBIBLIOGRAPHYIntroductionBelgium is an international country, especially through its dedication in the European Union (EU). Thus, the country has made evolved its write up commandment to adapt it to the international needs. However, we can observe devil dissimilar stages: before the 1970s and after this period. These two split wee-wee the body of our report. We will study in the outgrowth virtuoso the main influences that explain the initial position. In our number split up we will see that the causes of change atomic number 18 mainly orthogonal to the country. However, the past influences persist: 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 edict Law is established in Belgium that stated on the pitch of stocks, the statut es of the companies and the divine revelation of annuals accounts (Alexander, 1992). Even if it has been amended several times, until the 1970s it the capacious Compromiser deeply influenced by the French system, especially by the Napoleonic Commercial Code of 1807 (Blake, 1993). This legislation is characterised by the low influence of disclosure required: balance sheet and income statement ar mandatory precisely there is no obligation for make headway disclosure.
What is more, the Belgian balance sheets were known as ?pocket-size? ones : only(prenominal) 6 items had to be disclosed in it in enact to get hold of the requirements (Alexander, 1992). The only requirement for the i ncome statement was to present a ? authentic! 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 RongÃ©, 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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