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30-08-2018

Product code: Accounting-AW551

 

Question One:

(a) In a summary table compare and contrast the key development factors,  cultural dimensions and accounting values of Japan and China as would be predicted under the Hofstede and Gray classification models;

 (b) Using the Readings/References supplied, identify the CURRENT, key accounting professional characteristics and accounting policies, principles and practices of Japan and China; and

 (c) In your own words discuss whether you believe these current policies, principles and practices of each of these two countries are CONSISTENT with your original predictions in relation to the accounting values of each country. Provide an explanation for any similarities or differences.

Question 2:

Read the set reading by Pawan Jain and:

  1. In your own words briefly summarise the key benefits and challenges faced by India in converging with IFRS.
  2. What impact do you believe these Indian-based Accounting System features will have on the quality of the annual reports of Indian listed companies?

 

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The country scores on the Hofstede Dimensions and Gray classificationsfor Japan and China found to be moderate in compare with the nation USA as some factors favour the growth of industry whereas some acts as obstacles. The first factor power distance is correlated with income inequality in both countries. It is in decreasing trend due to decrease in per capita income between rich and poor. It is one of the reason for rising education and growing working population in both countries especially China.

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