So What?1. As you explore the result of this website, reflect on how Portugal's history of politcal turmoil may have effected the country's culture, economics, and overall world relations.
2. After reviewing the information on accounting standards, reflect on how Portugal's history may have influenced the country's developement of standards and thintegration with IFRS. 3. After reviewing the information on doing business in Portugal, reflect on how Portugal's history may have effected the ability for foreign persons to do business in Portugal and the ability for Portugal to conduct business in a global market. Interesting Facts- From 1910 to 1926, Portugal had 44 different types of governments, 20 military takeovers, and 12 presidents.
- Portugal is one of the oldest nations in Europe. - The Portuguese empire lasted six centuries making it the longest gloabl empire in the history |
History10th Century
- Portugal emerged as a county during the tenth century during the Christian reconquest under the rule of Counts of Portugal. Mid 12th Century - Portugal become a kingdom under King Afonso I. However, serveral rebellions occured. 15th & 16th Century - Overseas exploration and conquests in Africa, South America, and India reslted in Portugal becoming a rich empire. 1580: Spanish Captivity - Crisis within the country of Portugal aid in the successful invasion by the king of Spain, which resulted in Spanish rule. 1640: Rebellion - Portugal won their independence. Early 19th Century - Portugal experienced civil war. 1910: Rebellion - The monarch was once again thrown out, and the Republic was established in Portugal. 1926: Coup - A military coup led to the overthrow of the Republic and resulted in military generals rule. 1933: Authoritarian - A Professor named Salazar established an authoritarian rule. 1963: Tax Reform Began 1974: Coup - Salzar's illness resulted in a coup and the declaration of the Third Republic. - At this time African colonies wer given their independence. - Comissao de Normalizacao Contabilistica accounting standards board was created. - Portuguese Institute of Public Auditor was created 1976: Portugal Consitution 1977: Offical Accounting Board 1986: Joined the European Union 1988:Ratification of the Tax Law 1995: Accounting Institute 2001: Poruguese Code of Ethics 2005: Decree No. 35 - In observance of Regulation No. 1066 of 2002 from the European Comission, all listed Portuguese companies were required to apply IFRS in preparation of consolidated accounts. 2006: International Federation of Accountants Code of Ethics |