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nignag [31]
3 years ago
14

Critically discuss SIX causes of differences in accounting practices used in different countries.

Business
1 answer:
Liono4ka [1.6K]3 years ago
4 0

Answer:

Six causes of differences in accounting practices used in different countries is explained below with detail explanation.

Explanation:

The following are six problems of the variation in Accounting practice practiced in different nations.

  • Environmental Factors
  • Legal Systems
  • Cultural Difference
  • Taxation
  • Finance providers
  • Inflation

Legal System :

The legal system of a nation performs an essential role in the development of Accounting policies.

Taxation :

In some countries, Accounting and Taxation are dependent on each other. Whereas in other countries they are independent.

Inflation :

Inflation doesn't remain the same for every country. Uniform accounting practice cannot be followed because of this reason.

Cultural Differences/Diversity :

Cultural diversity plays a pivotal role in the Accounting practice of each country. Cultural practices lead to different practices being followed across the globe.

Environmental Factors :

Many countries have started to incorporate environmental Accounting in their financial statements.

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Answer:

a) An increasing number of import quotas

b) Better high-speed rail lines

c) Improvements in telecommunications

d) International trade agreements such as the General Agreement on Tariffs and Trade (GATT)

Explanation:

All of the above applies as in order to increase the international trade.

As with the increase in quotas there is a pressure to increase the imports. Further when there is easy chain of supply even in the international market that is railway facility is smooth and that the telecommunications is also easy.

Further, with increased trade agreements there is provision of reduced tariffs and taxes and accordingly the international exchange is not complicated and is rather smooth.

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3 years ago
Variable Input Fixed Input Output Marginal Physical Product of Variable Input Total Fixed Cost Total Variable Cost Marginal Cost
weqwewe [10]

Answer:

$21.67

Explanation:

Exhibit 21-3 is attached with the answer .Please find it.

Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.

Cost of producing 60 units

Variable cost = $800

Fixed cost = $500

Total cost = $800+500 = $1,300

Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67

7 0
3 years ago
"The Internet of everything (IOE) has created a lot of excitement in the business community. What evidence could you present to
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Answer:

Yes, the Internet of everything (IOE) has created a lot of excitement in the business community.

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Example

The example is Telecom Industry.

It effect could be seen in communication, is those days where there was no internet, mail or letter are delivered taking longer period and sometime may even get loss but with Telecommunications, introduction of e-mail come where letters is being delivered within seconds.

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a person who works at a full-service grocery store

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Answer:a) Will give you less opportunities than a career starting right away

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Explanation:

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