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7 November 2020, 23:00 Rules: • Assignments should be uploaded to Bilgi Learn as a single WORD document
7 November 2020, 23:00 Rules: • Assignments should be uploaded to Bilgi Learn as a single WORD document. Please do not upload other types of documents, such as pdf or txt. • Please write your name/surname and student ID at the top of the page. • Please select and answer ONLY ONE question out of the questions given below. If you answer more than one question, then only the first question will be graded (not the best). • Please do not forget to write the question number that you have selected and answered. • Your answer should not be longer than a page (not including References) - provided that "Font Size" is not smaller than 12. QUESTIONS: 1) Based on the Hofstede's indices (Individuality Index, Power Distance Index, Uncertainty Avoidance Index, and Masculinity Index) shared in "Lecture 1 Notes", please choose a country and discuss whether the scores of that country are valid for the year 2020. What would be your current estimation of scores for the selected country? 2) Is culture a reliable cause for identifying the differences in accounting systems and financial reporting practices of different countries? Discuss briefly
Expert Solution
Culture can be a cause for difference in accounting system of different countries. Cultural difference is the difference because of level of knowledge and education about accounting to the professionals. Other than culture there is huge reasons are Environmental factors, geographical reasons, history of the country, political and social issues.
However in case of difference in financial reporting of different countries is because of political, economical, legal factors.
Therefore Culture is not the reliable reason for differences.
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