Analyze the five national accounting practice systems summarized in the chapter.

Required:
a. For each of the five countries treated in the chapter, select the most important financial accounting practice or principle at variance with international norms.
b. For each selection you make, briefly state your reasons for including it on your list.
c. How does this variance affect reported earnings and the debt-to-asset ratio?
d. How likely is it that an analyst could adjust for this variance to achieve an “apples to apples” comparison with companies from other countries?