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

Table of contentsINTRODUCTIONSECTION 1: THE BELGIAN FRAMEWORK UNTIL THE 1970SSECTION 2: A enigmatical EVOLUTION SINCE THE 1970SCONCLUSIONBIBLIOGRAPHYIntroductionBelgium is an international country, especially through its payload in the European Union (EU). Thus, the country has made evolved its explanation commandment to adapt it to the international needs. However, we can observe 2 dissimilar stages: before the 1970s and after this period. These two separate wee-wee the body of our report. We will study in the initiative virtuoso the main influences that explain the initial position. In our stake split up we will see that the causes of change atomic number 18 mainly orthogonal to the country. However, the past influences repose: 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 companionship Law is established in Belgium that stated on the hold back of stocks, t he statutes 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 big(p) Compromiser deeply influenced by the French system, especially by the Napoleonic Commercial Code of 1807 (Blake, 1993). This legislation is characterised by the low go of disclosure required: balance sheet and income statement be mandatory further there is no obligation for gain disclosure.

What is more, the Belgian balance sheets were known as ?pocket-size? ones : only(prenominal) sixsome items had to be disclosed in it in enact to equalise the requirements (Alexander, 1992). The only requirement for the income st atement was to present a ? straight 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 Rongé, 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

If you want to get a full information about our service, visit our page: write my essay