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Why do the accounting systems of different countries differ

Why do the accounting systems of different countries differ

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Answer #1

There are Many Factors due to which Accounting systems of Different Countries Differ

  • Every Country has it own taxation laws and rules and it also mention how the books are maintained and kept, Due to which Accounting systems can differ
  • Political and Economic situations in the country also matters and relationship of one country with other country will also be a reason for the difference
  • The Culture in the Country is one of the most important factor as different countries have different type of bookkeeping
  • Level of Inflation and the Development of a particular also play a role here for the difference
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