Does every Country have differ Accounting rules!


Joined
Jan 23, 2013
Messages
5
Reaction score
0
I am always confused regarding accounting rules of countries. I found always differ rules and regulations.
 
Joined
Mar 10, 2013
Messages
12
Reaction score
0
What do you mean? Different income tax rules or different cost accounting rules, etc. Can you please clarify?
 

bklynboy

VIP Member
Joined
Oct 12, 2011
Messages
531
Reaction score
94
Country
us
Generally yes and there is no real international standard. IFRS is an attempt to have a common rule but even this when adopted by countries is politized and they change certain aspects to suit their own needs. Overall I think IFRS is mostly comparable across countries and is the best chance at convergence.
 
Joined
Apr 12, 2013
Messages
2
Reaction score
0
In my opinion,The biggest difference among the countries about accounting rules is about valuing long term fixed assets and recognizing income.I think basics of financial accounting is same in all countries.
 

Samir

VIP Member
Joined
Aug 15, 2013
Messages
353
Reaction score
35
Country
us
Answer in one word--YES!

VAT vs tax, tax assessments, income tax vs none, health care deductions vs provided care, etc., etc., etc.

There's enough details to worry about in just one country. Comparing countries' various systems will make your head spin...
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top