Article Abstract:
There is an imperative need to develop a workable system for the international harmonization of accounting information given the rapid internationalization of capital markets and the rise of the corollary, if cumbersome, need to prepare different sets of consolidated accounts to permit admittance into foreign stock exchanges. Many experts, however, acknowledge that moves towards developing a system of accountancy equivalence, such as that proposed by the European Commission, may prove to be painfully slow. The development of a system for the mutual recognition of consolidated accounts might well provide a more efficient, alternative route to the process of international harmonization.
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Article Abstract:
Spanish businessman and politician Abel Matutes is profiled. Matutes is the first European Commissioner to be given responsibility for small business. Matutes discusses current European Community (EC) policy on small business and current steps being taken by the EC to promote small business. Among the projects undertaken to aid small businesses within the European Community are proposals to simplify small business taxation, financing for small businesses, and information services between small businesses and regional EC offices.
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Article Abstract:
Philosophical as well as operational issues are separating the European Commission and Margaret Thatcher's government as Europe moves towards an economic union in 1992. Specifically, Great Britain wants to negotiate the exact structure of the single internal market, and its particular role within such a structure. In the center of the controversy is the transfer of sovereignty issue, which for Britain means the control of sterling and the continuation of London as the premier European business center.
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