HAdams_Classification_011911

HAdams_Classification_011911 - Classification RUNNING HEAD:...

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Classification 1 RUNNING HEAD: CLASSIFICATION Classification Helen Adams Rasmussen College International Accounting – ACG4250 Jaclyn Strauss, CPA January 9, 2011
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Classification 2 Classification After reading the article by Christopher Nobes, I was able to find several reasons for the differences in accounting systems around the world, according to Nobes. This paper will identify two reasons for the differences in accounting systems, with my opinion being stated about what the author is saying. The paper will conclude with a prediction on the future classification of accounting systems that may exist ten years from now. The first reason that is given for the differences in accounting systems is the financial systems. Financial systems are classified into three categories: “(a) capital market based, in which prices are established in competitive markets; (b) credit-based system: governmental, in which resources are administered by the government; and (c) credit-based system: financial
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This note was uploaded on 04/30/2011 for the course ECON 101 taught by Professor Smith during the Spring '11 term at University of Phoenix.

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HAdams_Classification_011911 - Classification RUNNING HEAD:...

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