Question

"If the accounting is based on culture and is national , in fact, local cultures are different, international harmonization will be obviously impossible." Argued in detail either in favour or against such claim.

Answer 1

If the accounting were based on culture or were national, it would be impossible for international harmonisation.

Every place on the world has got it's own culture, language, thought process which will have a direct impact on the accounting followed by it. Thus every community of people will have different accounting system.

Thus it would never be possible to harmonise the accounting system of one place with that of other's due to existence of numerous differet systems.