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Accounting systems of different countries differ because accounting is shaped by the environment in which it operates. Each country's accounting system has evolved in response to the local demands for accounting information. Because of globalization of capital markets, the lack of comparability has become a problem as transnational financing and transnational investments have grown rapidly in recent decades. Due to the lack of comparability, a firm may have to explain to investors why its financial position looks very different on financial reports that are based on different accounting practices.
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Why are there major differences between governmental accounting systems and business accounting systems?
Governmental accounting systems differ from business accounting systems primarily due to their distinct objectives and regulatory frameworks. Governments focus on accountability and transparency in the use of public funds, adhering to standards set by organizations like the Governmental Accounting Standards Board (GASB). In contrast, business accounting emphasizes profitability and financial performance for stakeholders, following guidelines from the Financial Accounting Standards Board (FASB). Additionally, governmental accounting often involves fund accounting to track resources with specific restrictions, whereas businesses typically use a more unified approach to financial reporting.
What are some ways in which accounting for health care organizations especially not-for-profit ones tends to differ from accounting in other industries?
accounting for healthcare organizations in not-for-profit ,tend to differ from accounting in other industries.
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
What is specific accounting principle?
Accounting principles differ throughout the world. Whether you are an accounting student or an investor, you should be aware of the accounting principles that apply in your region.
How does computerized accounting differ from normal accounting?
Computerized accounting is done using accounting software packages and spreadsheets to compile data; traditional bookkeeping is done in long form using ledgers and accounts receivable and accounts payable forms.
Why are there major differences between governmental accounting systems and business accounting systems?
Governmental accounting systems differ from business accounting systems primarily due to their distinct objectives and regulatory frameworks. Governments focus on accountability and transparency in the use of public funds, adhering to standards set by organizations like the Governmental Accounting Standards Board (GASB). In contrast, business accounting emphasizes profitability and financial performance for stakeholders, following guidelines from the Financial Accounting Standards Board (FASB). Additionally, governmental accounting often involves fund accounting to track resources with specific restrictions, whereas businesses typically use a more unified approach to financial reporting.
What are some ways in which accounting for health care organizations especially not-for-profit ones tends to differ from accounting in other industries?
accounting for healthcare organizations in not-for-profit ,tend to differ from accounting in other industries.
What do you mean by principle of accounting?
Definition of 'Accounting Principles' The rules and guidelines that companies must follow when reporting financial data. The common set of accounting principles is the generally accepted accounting principles (GAAP). To remain listed on many major stock exchanges in the U.S., companies must file regular financial statements reported according to GAAP. Accounting principles differ around the world, and countries usually have their own, slightly different, versions of GAAP.
Laws about euthanasia?
They differ in different countries. Very few allow it.
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
What way would cash flows differ in different countries?
The cash flow is different in different countries because of the econmoy. Depending the value of the currency some countries would greater cash flow compare to poor countries.
What is specific accounting principle?
Accounting principles differ throughout the world. Whether you are an accounting student or an investor, you should be aware of the accounting principles that apply in your region.
Why does the multiplier differ between countries?
its due to different tax interest and import ratess
What is specificity principle?
Accounting principles differ throughout the world. Whether you are an accounting student or an investor, you should be aware of the accounting principles that apply in your region.
How does an Apple server differ from a Windows server?
Apple servers differ from Windows servers in a few small ways. They first off use completely different operating systems. They also have different interfaces for use.
What is the basic elements of the South African trial systems and how do they differ from other systems?
What is the basic elements of the South African trial systems and how do they differ from other systems?
Why do countries differ in their capacities to produce different goods and services?
Due to there capabilities by there natural resources and labor.
