INTERNATIONAL ACCOUNTING
5th Edition
ISBN: 9781264020386
Author: Doupnik
Publisher: MCG
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Textbook Question
Chapter 2, Problem 12Q
According to Nobes’s simplified model of accounting diversity, what are the two most important factors influencing differences in accounting systems across countries?
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What are some of the problems created by differences in accounting across countries and the reasons to develop a set of internationally accepted accounting standards?
Which of the following historical reasons for accounting diversity could explain why accounting standards would be more detailed in some countries than in others? Choose the correct.a. Different rates of inflation across countries.b. Different legal systems across countries.c. Differences across countries in the extent to which financial statements are the basis for taxation.d. Political and economic ties between countries.
accounting standards for each country differ due to the unique environments that have developed over time. So then, why is it important to discard these cultural differences (which are very important to the culture's identity) to develop uniform accounting rules and principles (i.e. IFRS)?
Chapter 2 Solutions
INTERNATIONAL ACCOUNTING
Ch. 2 - Prob. 1QCh. 2 - Prob. 2QCh. 2 - 3. How does the relationship between financial...Ch. 2 - 4. Who are the major providers of capital...Ch. 2 - Prob. 5QCh. 2 - According to Gray, how does national culture...Ch. 2 - Prob. 7QCh. 2 - 8. How are the Anglo and less developed Latin...Ch. 2 - Prob. 9QCh. 2 - 5. What are the major problems caused by worldwide...
Ch. 2 - 6. What are the major problems caused by worldwide...Ch. 2 - According to Nobess simplified model of accounting...Ch. 2 - In what way does Nobess simplified model of...Ch. 2 - Prob. 14QCh. 2 - 11. How are the various costs that comprise cost...Ch. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Prob. 1EPCh. 2 - Prob. 2EPCh. 2 - Using their most recent annual reports, access the...Ch. 2 - 4. Cultural dimension index scores developed by...Ch. 2 - 5. Refer to Nobes’s judgmental classification of...Ch. 2 - Prob. 6EPCh. 2 - Prob. 7EPCh. 2 - 8. Various attempts have been made to reduce the...Ch. 2 - Prob. 9EPCh. 2 - Prob. 1CCh. 2 - Case 2-2
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Discuss the impact of globalization on accounting theory and the need for harmonization of accounting standards across different jurisdictions.arrow_forwardDetail and discuss the impact of cultural factors on differences in accounting between countries.arrow_forward1.Why do different countries have different accounting standards? Explain your answer withsuitable example.2. What are the advantages of a single set of international accounting standards?arrow_forward
- How do international accounting standards and cultural differences impact financial reporting practices in different regions of the world?arrow_forwardWhich of the following is not about harmonization? Select one: a. Harmonization is a process of increasing the compatibility of accounting practices. b. Harmonization simply implies uniformity. A c. Harmonization is tailored towards breaking the barriers of national differences. d. Harmonization is a process of preparing financial statements.arrow_forwardHow do cultural, social, and historical factors shape the development of accounting practices in different parts of the world, and what can we learn from studying these variations and differences?arrow_forward
- Do you think one set of accounting standards is feasible for the entire world, given the fact that accounting rules are influenced by social,cultural, economic and legal environment of a country. Does US support the idea of single set of accounting standards throughout the world.arrow_forwardIdentify several environmental factors that may explain why accounting principles differ among countries.arrow_forwardHow do differences in accounting controls and enforcement impact accounting reports prepared across different countries?arrow_forward
- In general terms, identify several factors that prompt differ-ent countries to develop different accounting principles.arrow_forwardPlease tell which factors lead to national difference in accounting?arrow_forwardWhich of the following factors has not influenced the development of accounting practices in various nations? a.cultural background b.the political environment c.economic development d.all of these factors have influenced the development of accounting practicesarrow_forward
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Business Diversification; Author: GreggU;https://www.youtube.com/watch?v=50-d__Pn_Ac;License: Standard Youtube License