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HISTORY |
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1974 |
A few months after Portuguese Revolution on 24th. April 1974, the Provisory Government included in its Economic and Social Policy Program an item concerning the adoption of standard charts of accounts for the enterprises. In November, the Portuguese Government created a Task Force with the aim to study the issuing of accounting standards to be applied in Portugal. |
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1975 |
Mr. António de Seixas Costa Leal, member of Government in charge of National Budget, issues on 27th. February a statement confirming the creation of a Commission, including 16 members representing the most various interests attached to the Government, educational, scientific and professional organisations, industry, commerce and trade unions. It is disclosed by the Commission a paper under the title "NORMALIZAÇÃO CONTABILÍSTICA - 1.ª fase" (ACCOUNTING STANDARDS - 1st. Phase), where were presented initial drafts, main accounts and some accounting principles and rules, forming the core of a future developed chart of accounts. |
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1976 |
At the end of this year the Commission submits to the Government the "PLANO OFICIAL DE CONTABLIDADE PARA AS EMPRESAS" (OFFICIAL CHART OF ACCOUNTS FOR THE ENTREPRISES). |
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1977 |
On the 27th. February, the Portuguese Government issued the Decree-Law 47/77 approving and making operative the PLANO and at the same time creates the COMISSÃO DE NORMALIZAÇÃO CONTABILÍSTICA (PORTUGUESE ACCOUNTING STANDARDS BOARD) for its follow-up and upgrading. |
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1979 |
The entering in functions of the Commission was postponed till end of the year, through a governmental decision with the nomination of the representatives of its members. |
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1980 |
On the 13th. October, the Minister of Finance issues a statement (Portaria 819/80) which defines attributions, organisation and functioning of the CNC (Portuguese Accounting Standards Board). |
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1985 |
With a view to the future adhesion of Portugal to the Single Market, CNC starts the preparatory process for the revision of the PLANO in order of its adaptation to the community directives on annual and consolidated accounts concerning limited companies. |
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1987 |
CNC starts the issuance of Normas Interpretativas (Standards Accounting Interpretations) with the objective to make clear some provisions of the PLANO, as well as to deal with new matters. A new governmental statement (Portaria 262/87) replaces the statement of 1980, changing some provisions relating to the attributions, organisation and functioning of CNC. |
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1989 |
On the 21st. November a new PLANO OFICIAL DE CONTABILIDADE (POC) is disclosed including the necessary changes to meet community directives requirements. That statement confirms CNC in functions. |
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1991 |
An important amendment to the POC is made to introduce the European directive on consolidated accounts (Decree-Law 238/91, 2nd. July). Disclosure of the first Accounting Guideline. The Accounting Guidelines replace the former Accounting Interpretations aiming to deal with matters not contemplated in POC. |
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1993 |
Issuance of an Accounting Directive (DC 14) concerning the preparation of the cash-flow statement, not yet in use in Portugal. |
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1996 |
Issuance of an Accounting Directive (DC 18) to define the general accepted accounting principles in force in Portugal. |
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1997 |
Revision of the format and subsequent concepts of the income statement by function. |
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1999 |
The Decree-Law 367/99 of 18th. September reviews the organisation of CNC, assuming a new reorganisation within three years; at the same time recognises the compulsory application of Accounting Guidelines issued by CNC. |