Forslag til ny norsk regnskapslov: prinsippet om fortsatt drift
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The theme for our bachelor assignment is the proposal of a new Norwegian Accounting act. The suggestion implies a clear and loyal implementation of the directive, with the core being adapted to EUs new Accounting Directive, which also applies to the EEA. We compared todays accounting act with the proposed changes to see what consequences an introduction of a new Norwegian accounting act will get for todays accounting policies. As the proposal for a new Norwegian accounting act is so comprehensive and involves a number of different changes, we have chosen to refine our task to the change of the principle of going concern and consequences for the reporting of going concern as the annual report is proposed to be removed for small entities. In order to provide answers to the consequences that the introduction of the new Norwegian Accounting act could lead to, we have prepared three different qualitative surveys. The starting point for the assignment is a qualitative document analysis, based on key document such as consultation proposals, including consultation responses and the current accounting act. As a supplement, we have also made a sample of 30 companies on Haugalandet that have gone bankrupt in the period of 2016/2017. We have done this to see what the companies actually write about the principle of going concern the year before the bankruptcy request. As another supplement, we have also made three semi-structured interviews with persons from the accounting industry who are working closely with todays accounting act, and thus have had an idea of how a new Norwegian accounting act is likely to come into practice. By conducting the various analyses, we have found out that the changes in the principle of going concern is likely to have small impact on todays accounting policies. This is evident from the fact that current practice is already close to the wording of the proposed section on going concern. Additionally, a removal of the annual report will have nothing to say for the reporting of continued operations as this should be disclosed in the notes. The results also show that a removal of the annual report will contribute to a positive simplification for small entities, as it will facilitate the economic and administrative work.