영국 회사법상 회계제도에 관한 연구

Abstract

UK Companies Act 2006 intends to enhance shareholder engagement and a long term investment culture, to ensure better regulation and a "Think Small First" approach, to make it easier to set up and run a company, and to provide flexibility for the future. For the accounting regulations, the 2006 Act adopted the three-tier structure. UK companies acts traditionally divide companies into two groups: public and private company. Moreover, UK companies acts divide companies into three groups: small, medium, and large company for the purpose of accounting regulations. Then the 2006 Act removed unnecessary burdens on small companies. This article tries to analyze UK accounting system of Companies Act and find lessons from it. Chapter Ⅱ examines UK accounting system, including definition of financial year, definition of small, medium, large company and group, accounting records, annual accounts, directors' report, and auditor's report. This chapter especially focuses on the accounting standards where UK decided to give options to the companies which standards they would apply for their own accounts. Chapter Ⅲ analyzes UK disclosure system for the account information, including distribution and publication of accounts and reports, and filing them with the Companies House. Chapter Ⅳ makes three recommendation with lessons from the accounting system of UK Companies Act for the reform of Korea's accounting system. Korea needs to have 'tier system' for accounts in order to reduce burden on small companies and to regulate large and listed companies appropriately. Korean Commercial Code should give the right of choice of accounting standards to the small companies. Moreover, Korea needs to have flexible accounting regulatory system which can reflect the development of accounting system, international and national.