Ekonomski pregled, Vol. 58 No. 3-4, 2007.
Prethodno priopćenje
FINANCIAL REPORTING IN THE EUROPEAN UNION – A COMPARATIVE VIEW
Ana Klikovac
Sažetak
Harmonization of fi nancial reporting is important on global level and in the European Union. To improve the comparability of financial reporting in the EU, a Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards was issued. According to this Regulation, all listed companies in the EU are required to use International Financial Reporting Standards (IFRSs) for their consolidated accounts starting from 1 January 2005. Most of the EU member states also permit or require the use of IFRSs for unlisted companies. This paper presents a comparative view of financial reporting in all 27 EU member states, and a comparison of financial reporting in EU and Republic of Croatia. The Republic of Croatia is an official candidate country for EU membership, and this means that it has to harmonize its legislation to EU requirements. New Accounting Act (Narodne novine No. 146/05 of 12 December 2005) is in conformity with Fourth and Seventh EU Directives, and Regulation (EC) No 1606/2002.
Ključne riječi
harmonization; financial reporting; International Financial Reporting Standards; small and medium-sized entities
Hrčak ID:
12235
URI
Datum izdavanja:
20.4.2007.
Posjeta: 7.514 *