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How 'uniform' is financial reporting in Germany? - The example of foreign currency translation

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  • Peter Feige

Abstract

In many standard textbooks on comparative international accounting, a separate chapter is devoted to classification models of national financial reporting systems. Typically, the authors of 'international accounting classification models' not only organize national financial reporting systems into certain groups and assign descriptive labels to these categories. Rather, they also tend to draw analogies with the disciplines of the natural sciences so as to justify the methodology which underlies their theoretical constructs. The validity of these methodological claims is indirectly being examined in this paper, which argues predominantly from an empirical angle. The focus of the essay is on the notion - usually advanced by the authors of the models under discussion - that German financial accounting practice can be described as 'uniform', thus forming a contrast to the 'fair-judgemental' approach to financial reporting which is commonly held to prevail in the United Kingdom. In order to test these propositions, the accounting policies in the area of foreign currency translation in the consolidated accounts of a sample of British and German chemical companies are subjected to scrutiny.

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  • Peter Feige, 1997. "How 'uniform' is financial reporting in Germany? - The example of foreign currency translation," European Accounting Review, Taylor & Francis Journals, vol. 6(1), pages 109-122, May.
    • Handle: RePEc:taf:euract:v:6:y:1997:i:1:p:109-122
    DOI: 10.1080/096381897336890
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    References listed on IDEAS

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    1. David Alexander, 1993. "A European true and fair view?," European Accounting Review, Taylor & Francis Journals, vol. 2(1), pages 59-80.
    2. David Alexander, 1993. "A European true and fair view?," European Accounting Review, Taylor & Francis Journals, vol. 2(1), pages 17-46.
    3. Dieter Ordelheide, 1993. "True and fair view," European Accounting Review, Taylor & Francis Journals, vol. 2(1), pages 81-90.
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    Cited by:

    1. Lefebvre, C., 2001. "International accounting and comparative financial reporting: selected essays of Christopher Nobes: by Christopher W. Nobes, Edward Elgar, Cheltenham, Glos UK, Northampton, MA, USA, 1999, xvi+240 pp. ," The International Journal of Accounting, Elsevier, vol. 36(2), pages 255-258, May.
    2. Christopher W. Nobes & Gerhard G. Mueller, 1997. "How 'uniform' is financial reporting in Germany?: some replies," European Accounting Review, Taylor & Francis Journals, vol. 6(1), pages 123-129, May.
    3. Bayou, Mohamed E. & Reinstein, Alan & Williams, Paul F., 2011. "To tell the truth: A discussion of issues concerning truth and ethics in accounting," Accounting, Organizations and Society, Elsevier, vol. 36(2), pages 109-124, February.
    4. Christopher Nobes, 2008. "Accounting Classification in the IFRS Era," Australian Accounting Review, CPA Australia, vol. 18(3), pages 191-198, September.
    5. John Ferguson & David Collison & David Power & Lorna Stevenson, 2006. "Accounting textbooks: Exploring the production of a cultural and political artifact," Accounting Education, Taylor & Francis Journals, vol. 15(3), pages 243-260.
    6. Susana Callao & José Ignacio Jarne, 2010. "Have IFRS Affected Earnings Management in the European Union?," Accounting in Europe, Taylor & Francis Journals, vol. 7(2), pages 159-189, December.

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