Question

how does culture impact the development of accounting?

Answer 1

Ans: Cultural lays the foundation of the practice of recording the transaction in a fair & true way which is a primary requisite for development of good accounting system, If there is a cultural to record every transaction in aproper manner without any manipulation than proper books of accounts can be maintained and financial statements can be prepared with applicable rules and regulations. But where there is aculture of manipulation then there's a high possibility proper accounting practices can't be adopted thus making it essential for good accounting practices a proper culture should be there.