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Five factors are often mentioned as affecting a country’s accounting

 

Five factors are often mentioned as affecting a country’s accounting practices: (a) legal system, (b) taxation, (c) providers of financing, (d) inflation, and (e) political and economic ties.

Required:

Consider your home country. Identify which of these factors has had the strongest influence on the development of accounting in your country. Provide specific examples to support your position.

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