Under Grays framework for the development of accounting systems there are six

Under grays framework for the development of

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Under Gray’s framework for the development of accounting systems, there are six influences: External influences, Ecological influences, Cultural dimensions, Accounting values, Institutional consequences, and Accounting system. They are affected and reinforced each other, except external influences. The first step is external influence which is included forces of nature, trade, investment, and conquest. Then is ecological influences: Geographic, demographic, genetic/hygienic, historical, technological, and urbanization. The third step is cultural dimension which is included individualism, power distance, uncertainty avoidance and masculinity. And then is accounting values: professionalism, uniformity, conservatism, and secrecy. The fifth step is institutional consequences: legal system, corporate ownership, capital
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4 markets, professional associations, education, and religion. The final step is accounting system which is authority, enforcement, measurement, and disclosure. (Gray, 1988) 2a. Discuss the implications this argument has for the comparability of financial statements across countries, even in an environment of substantial international accounting convergence. Under Gray’s cultural dimensions in framework, there are five dimensions: power distance, uncertainty avoidance, individualism, masculinity, and long-term orientation. Individualism is the extent to which people feel independent, as opposed to being interdependent as members of larger wholes. The most individualist are United State, Canada, Europe, and Australia. The most collectivism are Mongolia and Central African Republic.
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  • Fall '14
  • International Financial Reporting Standards, Central African Republic, internal auditor

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