Question: At a national level, accounting systems will be influenced by the taxation system, sources of finance, the political system, the stage of economic growth

At a national level, accounting systems will be influenced by the taxation

At a national level, accounting systems will be influenced by the taxation system, sources of finance, the political system, the stage of economic growth and development, the stage of development of a capital market, the legal system, the existence of an accounting profession and the nature of accounting regulation. All of these influences are equally likely to impact on financial reporting in different countries. For this forum, discuss in detail any 3 environmental factors mentioned that lead to national differences in accounting. Also, in recent years, finance professionals have reviewed the impact of initiatives on overall financial sustainability. Why is this important for the overall LT success of an organization?

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