[GNC] Owner Contributions & Distributions

[David Cousens]

Christian,

The difference you have noted about contributins to equity is a fairly
general one common to most jurisdictions and is primarily determined as you
point out by whether the contibution comes from the operation of the
business and subject to taxation in the hands of the business or is provided
from previously taxed sources. Single taxation is a feature of most
equitable taxation systems.

AFAIK most countries in the EU and many other countries have adopted the
standards promulgated by the International Accounting Standards Board. This
is usually done by adopting the IASB produced and IFRS published standards
as the basis for their own national standards with local modifications where
required to accomodate local legislative frameworks. Some countries
including the US while not adopting the IFRS standards have a program
designed to converge their own standards to the international standards. 

This means there is a large common core of accounting which functions much
the same in most jurisdictions which is why GnuCsh works so successfully in
so many countries. On top of this there are local requirements to meet local
taxation and business legislation and regulation and sometimes just
peculiarities of traditional practice. 

David



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David Cousens
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