Disclosure Requirements in France
The evolving financial reporting standards have enabled more detailed, complex financial reporting disclosures. France’s jurisdiction requires companies to prepare and disclose annual corporate reports whereby the report may be filed at a company’s registry. The companies must report the balance sheet, income statement, notes to the financial statements, director’s report, and auditor’s report. A balance sheet statement must disclose all the assets owned and liabilities of a company, valued based on the country’s valuation measurement (Bonsón, 2015). For instance, tangible assets are usually valued at historical costs and depreciated using either a straight line or a declining method.
French companies follow the IFRS standards when preparing consolidated financial statements, while US companies follow either the US GAAP or the IFRS to prepare consolidated financial statements. Companies in France must prepare their financial statements in accordance with legislation requirements and in good faith to show their true and fair view. The income statements of the companies must show all the revenues and expenses incurred during the financial period, including research and development costs (Nobes, 2014). Research and development costs can be capitalized in restricted circumstances. French reporting requires disclosure of extensive and detailed notes to the financial statements. Just like the US, the notes should disclose accounting policies used in the financial statements, accounting treatment of foreign currency items, statements of changes in fixed assets and depreciation, provision details, revaluation details, subsidiary information, and details relating to the impact of tax on the financial statements.
Both the US and French law require that large companies prepare cash flow statements disclosing the use and provision of cash for operating, investing, and financing activities. A cash flow statement should disclose the net changes in cash in a financial year.
References
Bonsón, E. &. (2015). CSR reporting practices of Eurozone companies. Revista de Contabilidad, 18(2), 182-193.
Nobes, C. (2014). International classification of financial reporting. Routledge.
ORDER A PLAGIARISM-FREE PAPER HERE
We’ll write everything from scratch
Question 
Disclosure Requirements in France
Disclosure Requirements in France
Research a country other than the US or United Kingdom and tell us about their disclosure requirements.
How does this compare to the US?
Complete the order form and upload all of your files, including any instructions, rubrics, or other materials provided by your instructor. 
Complete the order payment after filling in the order form. We’ll receive your order and assign it to a writer.
The assigned writer will complete your paper and forward it to our Editing Team for review and approval.
Once approved by the editor, the completed paper will be uploaded to your account for you to download, review and approve.