In search of the purpose of accounting representation

Abstract

Since 1970, the European Union has developed an accounting model founded in legal and civil bases under the influence of the roman and german culture. Nevertheless, since 2002, she adopted the international accounting rules created by the International Accounting Standards Board to establish the consolidated accounts of the listed holdings. These rules presents a financial culture leading to separate law and accounting. The identification of the object observed by the accounting allows to verify this statement. European law assimilate law subject-limited companies-to the accounting representation object and the IFRS rules proceeds differently because they untie the legal concept and the object represented through a non legal concept: the accounting entity. Both accounting systems are not incompatibles because modern law looks to nuance or push around the greats intellectual constructions allowing to built the relation between law and accounting: legal personality, heritage or limited liability of associates of a company.