An Overview of European Accounting 1
1．Introduction 1
2．Institutional Influences on European Accounting 4
3．Cultural Influences on European Accounting 6
4．The Non-European Influences 10
5．The EU Directives 13
6．Toward European Generally Accepted Accounting Principles? 20
Austria&Helmut Maukner 26
Country Highlights 26
1．Background 28
2．The Form and Content of Published Financial Statements 30
3．Accounting Principles and Practices 45
4．Expected Future Developments 58
Financial Statements of Austria Tabak AG 59
Belgium&Ann Jorissen 96
Country Highlights 96
1．A Brief History of Belgian Accounting Legislation 98
2．The Form and Content of Published Financial Statements and Notes 110
3．Accounting Policies and Practices in Valuation and Income Measurement：Implications for the Analyst 114
4．Expected Future Developments 142
Userful Addresses 143
Financial Statements of Bekaert 145
Denmark&Carsten K．Hansen Ole Sφrensen 169
Country Highlights 169
1．Background 171
2．The Form and Content of Published Financial Statements 182
3．Accounting Policies and Practices in Valuation and Income Measurement：Implications for the Analyst 190
4．Expected Future Developments 204
Useful Addresses 205
Financial Statements of H．Lundbeck A/S 207
Finland&Salme N？si Aila Virtanen 256
Country Highlights 256
1．Background 258
2．Accounting Policies and Practices in Individual Companies'Accounts 263
3．Accounting Policies and Practices for Consolidated Accounts 272
Financial Statements 279
Appendix A：The Layouts of the Profit and Loss Account and the Balance Sheet in Finland(in Finnish and in English)of KPA 280
Appendix B：Financial Statements of the Tamfelt Group 284
France&Jean-Claude Scheid Peter Walton 303
Country Highlights 303
1．Background 304
2．The Form and Content of Published Accounts 318
3．Measurement Policies：Implications for the Analyst 324
4．Expected Future Developments 333
Useful Addresses 333
Financial Statements of Groupe Pernod Ricard 335
Germany&Günter Seckler 358
Country Highlights 358
1．Background 360
2．The Form and Content of Published Financial Statements 366
3．Accounting Policies and Practices：Implications for the Analyst 382
4．Recent and Expected Future Developments 401
Useful Addresses 403
Exhibits 404
Financial Statements of SAP Aktiengeselischaft 419
Greece&Dinos Michalatos 460
Country Highlights 460
1．Background 461
2．The Form and Content of Published Financial Statements 466
3．Accounting Policies and Practices in Valuation and Income Measurement：Implications for the Analyst 469
4．Expected Future Developments 478
Useful Addresses 478
Financial Statements of Heracles General Cement Company S.A. 479
Italy&Stefano Zambon 520
Country Highlights 520
1．Background 520
2．The Accounting Profession,Audit,and Standards in Today's Italy 544
3．The Form and Content of Financial Reporting in Italy 576
4．Rules,Policies,and Practices of Accounting Valuations in Italy 576
Useful Addresses 623
Financial Statements of Merloni Elettrodomestici S.P.A． 625
Luxembourg&Gerd H.Gebhard 668
Country Highlights 668
1．Background 670
2．Audit and Publication 675
3．Accounting Principles and Practices 678
4．Recent and Future Developments 683
Useful Addresses 686
Financial Statements 687
The Netherlands&Martin N.Hoogendoorn 693
Country Highlights 693
1．Background 694
2．The Form and Content of Published Financial Statements 704
3．Accounting Policies and Practices in Valuation and Income Measurement：Implications for the Analyst 719
4．Expected Future Developments 752
Useful Address 753
Appendix A：Comparisons with IASC Standards and U.S.GAAP 754
Appendix B：Directives and Dutch Legislation 759
Financial Statements of DSM N.V. 767
Portugal&Leonor Fernandes Ferreira 803
Country Highlights 803
1．Background 805
2．The Form and Content of Published Financial Statements 819
3．Accounting Principles,Policies,and Practices in Valuation and Income Measurement 823
4．Expected Future Developments 844
Useful Addresses 845
Financial Statements of Sonae Investimentos,S.G.P.S.,S.A. 847
Republic of Ireland&Aileen Pierce Niamh Brennan 872
Country Highlights 872
1．Background 874
2．Legal Regulation 874
3．Irish Stock Market 880
4．Irish Accounting Profession 881
5．Form and Content of Published Financial Statements in Ireland 890
6．Concluding Remarks 920
Useful Addresses 921
Financial Statements of CRH 923
United Kingdom&Margaret Lamb 956
Country Highlights 956
1．Context for Financial Reporting 958
2．Regulation of Financial Reporting 969
3．Financial Reporting in Practice 980
4．Expected Future Developments 993
Useful Addresses 998
Financial Statements of Bunzl plc 1001
Common Appendix&Aileen Pierce Niamh Brennan Margaret Lamb 1035
Stock Exchange and Professional Accounting Requirements Applying in Both the Republic of Ireland and the United Kingdom 1110
Spain&Francisco J.Martinez 1110
Country Highlights 1110
1．Background 1112
2．The Form and Content of Annual Accounts 1121
3．Accounting Principles and Policies in Valuation and Income Measurement 1135
4．Expected Future Developments 1151
Useful Addresses 1152
Appendix A：Required Structures of the Balance Sheet and the Profit and Loss Account,According to the Companies Reform Act of 1989 and the Companies Act of 1989 1153
Appendix B：Model of Accounts According to the 1990 General Accounting Plan(in Spanish and English) 1157
Financial Statements of Gas Natural SDG,S.A. 1169
Sweden&Sigvard Heurlin Erling Peterssohn 1202
Country Highlights 1202
1．Background 1202
2．The Form and Content of Published Financial Statements 1212
3．Accounting Principles and Practices in Valuation and Income Measurement 1215
4．Main Differences Between Swedish GAAP and IAS 1232
5．Expected Future Developments 1234
Financial Statements of SCA 1237
Iceland&Stefan Svavarsson 1258
Country Highlights 1258
1．Background 1260
2．Publication and Auditing 1263
3．Accounting Principles and Practices 1265
4．Future Developments 1280
Useful Addresses 1281
Financial Statements of Hampidian PLC 1283
Norway&Atle Johnsen Aasmund Eilifsen 1294
Country Highlights 1294
1．Background 1295
2．The Form and Content of Published Financial Statements 1308
3．Accounting Policies and Practices in Valuation and Income Measurement 1311
4．Future Developments 1316
Financial Statements of Orkla ASA 1317
Switzerland&Bernard Raffournier 1342
Country Highlights 1342
1．Background 1344
2．The Form and Content of Published Financial Statements 1350
3．Accounting Policies and Practices in Valuation and Income Measurement：Implications for the Analyst 1359
4．Expected Future Developments 1375
Useful Addresses 1375
Financial Statments of Georg Fischer Ltd. 1377
Turkey&？nal Tekinalp 1408
Country Highlights 1408
1．Background 1410
2．The Form and Content of Published Financial Statements 1416
3．Accounting Policies and Practices in Valuation and Income Measurement：Implications for the Analyst 1420
4．Expected Future Developments 1437
Financial Statements on Kordsa Kord Bezi Sanayhi ve Ticaret A.S. 1439
Index 1475