New laws for old: Germany leads
Article Abstract:
West Germany implemented in 1985 the fourth, seventh and eighth European Community Directives, the main provisions of which take effect at the end of 1987. The accounting and auditing changes for public and private companies are significant. Rules are summarized for formats, valuation, measurement, disclosure, consolidation, filing and publication, and audit. These are the most extensive changes in German accounting for 20 years. The main changes take effect immediately. Some, such as consolidation, do not take effect until 1990. The biggest change is the increased number of companies now subject to audit and publication rules. Also, consolidation applies to all but small organizations, and near-Anglo-American practices now apply to foreign subsidiaries, associated companies, merger accounting, good will, and exemptions or exclusions from consolidation. Still, German and UK practices differ widely.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1986
User Contributions:
Comment about this article or add new information about this topic:
Lines from Europe are busy
Article Abstract:
The Commission of the European Communities (CEC) is attempting to foster the creation of a single EC telecommunications market and is issuing directives that will: separate the member nations' postal and telecommunications administrations' (TAs) regulatory and operational activities; require TAs to provide reserved services to whomever requests them; and enforce common technical standards. The CEC also is fostering the adoption of an EC-wide integrated digital services network (ISDN) by: supporting a program of common ISDN specifications; creating an agreement between TAs for providing common ISDN features; and seeking an agreement among manufacturers for common specifications. The CEC is suggesting an open network proposal to create an environment in which many companies can enter the market by requiring the TAs to offer their facilities to providers without discrimination.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
User Contributions:
Comment about this article or add new information about this topic:
The zero rate debate - VAT's it all about?
Article Abstract:
Great Britain and the European Commission (EC) are at odds over the implementation of Value Added Taxes (VAT). A wide range of products and services sold in the UK have zero ratings, including animal feed, livestock, water and sewer systems, and construction services. The European Commission argues that these zero-rated items go beyond the 'exemption with refund' provision of the Commission's Sixth Directive, and that the zero-rated items should be taxed. The EC is taking both judicial and legislative action to abolish the practice of zero rating.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A matter of principles - Part II. The derivative debate. CoCo goes public
- Abstracts: Tax benefits for elderly continue to erode, but tax saving strategies are still available. Tax and other benefits still available to a professional who incorporates
- Abstracts: Prospects for sterling. Mixed prospects for battered sterling. Dollar - sterling - the peak is in sight
- Abstracts: Share incentives - what if the employee leaves? Can anything be wrong with a bonus with tax benefits? Tax law meets accounting practice (again)
- Abstracts: Where do I hold my company? Global warming. ICC slams transborder tax proposals