International Accounting

Paper Summary:

This paper describes and evaluates research theories and methodologies in order to classify accounting systems internationally. The paper explains the purpose of classification and the two methods used for classifying international accounting systems, looks at some of the problems of these methods of classification, and touches briefly upon the impact that culture and society values have on accounting.

From the Paper:

"Classification of international accounting systems has many purposes, as it aims to help financial users to better understand each system and to contribute to the harmonization of these heterogeneous systems. Classifications intend to sharpen the description, analysis and prediction of accounting systems (which refers to the extent to which national systems are similar or not, the pattern of development of systems, which may have important potential for change, and the reasons why some systems dominate others), to help describe and compare different national systems in order to better understand them, to make assessments of harmonization prospects, to guide national policy makers in taking the right steps in order to achieve full economic development, to help developing countries choose appropriate systems, which would not impede but facilitate their development, and to help MNEs overcome problems of establishing control systems."

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