Seminárna práca: General accounting

1. Purpose of publication of the Accounting Directive (78/660/EEC)
The Fourth Council Directive ((78/660/EEC) of 25 July 1978 requires all limited lability companies to prepare annual accounts. In conformity with its legal base, the Fourth Directive does not aim to achieve a complete standardisation of accounting rules. Its objective is rather the comparability and equivalence of financial information. The Directive therefore contains a large number of options for Member States or for companies, which permit different accounting treatments. Comparability between different options is established through additional information in the notes which must accompany the balance sheet and the profit and loss account. Exemptions are allowed for small and medium-sized companies

2. Purpose of publication of the Accounting Directive (83/349/EEC)
The Seventh Council Directive (83/349/EEC) of 13 June 1983 concerns consolidated accounts. It requires a parent company to prepare, in addition to its individual accounts, consolidated accounts and a consolidated annual report in which the financial situation of the group is shown as if it were a single entity.
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