ABSTRACT
France was one of the earliest EC member states to implement the Seventh Directive into its national law. The harmonization process began first with the enactment on 3 January 1985 and 17 February 1986 respectively of a law and then a decree on The consolidated accounts of certain companies and certain public undertakings …’ which introduced the Directive into company legislation. However, these two legal measures included only some general provisions which could not pretend to legislate all the details in a matter of such complexity and technicality as group accounting. The National Accounting Council (CNC) therefore issued a ‘methodology’ in the Fall of 1986 which was later incorporated in the Accounting Code (Plan Comptable Général) after being officially approved by a regulation of the Minister of Finance. After this third step, French firms have now an almost 1 complete body of regulations concerning group accounting.
