Accounting-System in Switzerland
Brainstorming: Accounting of Switzerland 4We have chosen the Switzerland for several reasons.First of all Swiss accounting is neither examined in our textbook nor is it one of our native countries. This was one of the requirements of the exercise. Then we thought that Switzerland is interesting because of its cultural background. There are four languages spoken in the Switzerland, which is enclosed by 5 neighbours (Germany, France, Italy, Liechtenstein, Austria). The Swiss adopted the language of Germany, France and Italy and that led us to the assumption that the Swiss accounting probably might be influenced by at least one or even more of its neighbours. Another reason choosing Switzerland was the well-known banking secrecy and the importance of privacy and secrecy in general. To get informations about Swiss accounting we looked at the articles in newspapers, books, magazines and the Internet. Interestingly it seemed that even the professionals wrangle with the challenges of
To a large extent it is a "cultural revolution", considering the maxims of secrecy and privacy, which were used and accepted since decades. The switch of swiss accounting system and finacial reporting practices is not merely a formal procedure. Foreign trade is essential for its wealth. World War, accepted gold from the Nazis and refused many refugees. weak and young auditing profession 4. According to the international, especially European development, which means raising grade of harmonization Switzerland makes great efforts to change its accounting system in order to be in accordance with international standards to make their companies comparable for foreign and domestic investors. We considered the other two neighbours Liechtenstein and Austria for less important. 7 %) are small and medium size companies with less than 250 employees. We think that it was a long way to reach the current situation, where IAS are accepted in Switzerland. three books about European accounting which contained informations about Swiss accounting. the date since IAS were officially allowed to use in Switzerland.
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Acceptance Essays
