1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nignag [31]
2 years ago
14

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

Business
1 answer:
Liono4ka [1.6K]2 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.

You might be interested in
During the twentieth century, the real income of blue-collar workers in western societies __________ overall, although it has __
Blababa [14]
During the twentieth century, the real income of blue-collar workers in western societies increased significantly overall, although it has dropped in the past 20 years. 
White-collar workers went to work in factories instead of going to farming, and within a few years created the new industrial working class of America. Workingin factories was a difficult transition for rural people who were accustomed to living in communities where life was controlled by the hours of available daylight and the natural rhythm of the seasons. 
5 0
3 years ago
How might increasing the level of government transfers reduce the size of the economic pie? check all that apply?
maksim [4K]
Since the increasing level of government transfers only transfers the wealth without actual creation of goods/services, Higher taxes may be necessary to finance increased transfer payments, leading to a reduction in hours worked because of a decrease in the reward for productive activity. Not only that, <span>.Greater transfer activity diverts productive resources into rent-seeking activity</span>
8 0
2 years ago
The total fixed overhead variance is:a. the difference between actual and budgeted fixed overhead costs. b. the difference betwe
kondaur [170]

Answer:

a. the difference between actual and budgeted fixed overhead costs.

Explanation:

As we know that

The variance is shows the difference between the actual amount and the budgeted amount or estimate amount

So, the total fixed overhead variance is the difference between the actual fixed overhead costs and the budgeted fixed overhead costs i.e to be fixed in nature

Hence, the first option is correct

3 0
2 years ago
molen inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $4.00 per share. if the required ret
crimeas [40]

The price at which the stock should sell is $61.54.

Using this formula

Stock selling price=Preferred stock annual dividend/Preferred stock required return

Where:

Preferred stock annual dividend=$4.00 per share

Preferred stock required return=6.5% or  0.065

Let plug in the formula

Stock selling price=$4.00/0.065

Stock selling price=$61.538

Stock selling price=$61.54 (Approximately)

Inconclusion the price at which the stock should sell is $61.54.

Learn more here:

brainly.com/question/15561609

7 0
2 years ago
Why is it important for a partnership agreement to spell out managerial responsibilities and financial arrangements?
alina1380 [7]
It is important so no one in the agreement screws the other person over
5 0
3 years ago
Other questions:
  • Raven Company has a target of $70,000 pre-tax income. The contribution margin ratio is 30%. What amount of dollar sales must be
    9·1 answer
  • IF YOU HELP ILL DO ANYTHING!! 20 POINTS AND BRAINLIEST!!
    7·2 answers
  • Diversification cannot reduce market risk. <br> a. true <br> b. false
    13·1 answer
  • TeleGlobal is an American firm producing TV sets. TeleGlobal imports TV set components from Taiwan and assemb them domestically.
    7·1 answer
  • Maria, who works in the design department, wants her online presence to signal that she is a business professional. Which profil
    12·1 answer
  • The Talbot Company uses electrical assemblies to produce an array of small appliances. One of its high cost / high volume assemb
    13·1 answer
  • Chang, the founder of a multinational corporation, believes that his business should mainly focus on the benefit of those people
    11·1 answer
  • A company's current LIFO inventory consists of 5,000 units purchased at $6 per unit. Replacement cost has now fallen to $5 per u
    6·2 answers
  • management must be applied according to the needs of the organization. This implies that management is .....​
    15·1 answer
  • a tech company decides to pay dividends to shareholders out of its net earnings. this will decrease its
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!