ABSTRACT
This chapter discusses the chronologies that are prepared by Nobes and Parker for the UK and by Zeff for the USA to provide general and comparative views of the development of company financial reporting and the ways in which accounting principles and standards have been established. It also discusses several Companies Acts, and the Securities Act 1933 which are established in the USA. One of the Companies Acts is Joint Stock Companies Act 1844, which makes possible for first time incorporation by registration. This Act requires banking companies' regulations to provide for the supply to shareholders of an annual balance sheet, profit and loss account and for an annual audit. Joint Stock Companies Act 1856 replacing 1844 and 1855 Acts. According to this Act the compulsory accounting requirements and audit for registered companies are abandoned.
