French Accounting
1. Introduction
The system for blocking in and regulation annual accounts in France is more different than in UK.
During the reign of Louis XIV, French accounting was first introduced as a compulsory feature of business in 1673 by a law (known as the Savary Order) that required traders to maintain daybooks of their business transactions and prepare an annual list of assets.
The Ordonnance de Colbert was the first regulation that imposes a form of accountability. It required traders to register their books of account which a designated civil authority.
Napoleonic Commercial Codes incorporated these concepts as part of codifying the law.
The Plan basis for accounting is a part of reorganisation French economy in 1946.
2. National Accounting Plan
It is the most distinctive part of French accounting. It includes definitions of accounting terms, valuation and measurement.
A uniform system requires that government controls the economy well.
The archetypal......
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