The harmonization of the European accounting models after the implementation of the Directive 2013/34/EU: first impressions related to a comparison between the requirements introduced in Germany, Italy, Spain and United Kingdom

The European Commission decided to revise substantially the content of the current model, intending, among other things, to reduce the allowed options and the administrative burdens of smaller undertakings. This process has determined the enactment of the directive 34/2013/EU, which should have been implemented by the European Member States by the 20th of July, 2015. The literature studied the harmonization phenomenon for many years, trying to establish predetermined criteria able to measure it. This paper uses the Van der Tas’ I index to examine whether the “new” accounting directive will lead to a more harmonized accounting scenario. Specifically, this paper focuses on the de jure harmonization, investigating the content of the disclosure as well as the measurement requirements. In order to do that, the research analyzes the scenario presented by Germany, France, Italy, Spain and United Kingdom, the five most relevant economies in the European economic area.