Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period

The international accounting literature pays much attention to the clustering of national accounting systems of various countries based on similar financial reporting characteristics. In this paper, we argue that the existing models that cluster countries are substantially incomplete and misleadi...

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Main Authors: Chand, Parmod, Patel, Chris, Day, Ronald
Format: Article
Language:English
Published: Asian Academy of Management (AAM) 2008
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Online Access:http://eprints.usm.my/36390/1/AAMJ_13.2.6.pdf
http://eprints.usm.my/36390/
http://web.usm.my/aamj/13.2.2008/AAMJ%2013.2.6.pdf
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Institution: Universiti Sains Malaysia
Language: English
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spelling my.usm.eprints.36390 http://eprints.usm.my/36390/ Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period Chand, Parmod Patel, Chris Day, Ronald HD28-70 Management. Industrial Management The international accounting literature pays much attention to the clustering of national accounting systems of various countries based on similar financial reporting characteristics. In this paper, we argue that the existing models that cluster countries are substantially incomplete and misleading due to the recent convergence efforts that have taken place. We identify the factors that may be causing differences in both the de jure and de facto aspects of comparability in financial reporting across countries in the postconvergence period. Using four countries from the South Pacific region (Australia, New Zealand, Papua New Guinea and Fiji), we identify three dominant factors that still act as constraints in accounting convergence. These include: (1) the nature of business ownership and the financial system, (2) culture, and (3) the level of accounting education and the experience of professional accountants in each of the different countries. We argue that national and international regulators need to work towards reducing these remaining differences across countries to achieve the objectives of accounting convergence. Asian Academy of Management (AAM) 2008 Article PeerReviewed application/pdf en http://eprints.usm.my/36390/1/AAMJ_13.2.6.pdf Chand, Parmod and Patel, Chris and Day, Ronald (2008) Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period. Asian Academy of Management Journal (AAMJ), 13 (2). pp. 1-19. ISSN 1394-2603 http://web.usm.my/aamj/13.2.2008/AAMJ%2013.2.6.pdf
institution Universiti Sains Malaysia
building Hamzah Sendut Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sains Malaysia
content_source USM Institutional Repository
url_provider http://eprints.usm.my/
language English
topic HD28-70 Management. Industrial Management
spellingShingle HD28-70 Management. Industrial Management
Chand, Parmod
Patel, Chris
Day, Ronald
Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period
description The international accounting literature pays much attention to the clustering of national accounting systems of various countries based on similar financial reporting characteristics. In this paper, we argue that the existing models that cluster countries are substantially incomplete and misleading due to the recent convergence efforts that have taken place. We identify the factors that may be causing differences in both the de jure and de facto aspects of comparability in financial reporting across countries in the postconvergence period. Using four countries from the South Pacific region (Australia, New Zealand, Papua New Guinea and Fiji), we identify three dominant factors that still act as constraints in accounting convergence. These include: (1) the nature of business ownership and the financial system, (2) culture, and (3) the level of accounting education and the experience of professional accountants in each of the different countries. We argue that national and international regulators need to work towards reducing these remaining differences across countries to achieve the objectives of accounting convergence.
format Article
author Chand, Parmod
Patel, Chris
Day, Ronald
author_facet Chand, Parmod
Patel, Chris
Day, Ronald
author_sort Chand, Parmod
title Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period
title_short Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period
title_full Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period
title_fullStr Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period
title_full_unstemmed Factors Causing Differences In The Financial Reporting Practices In Selected South Pacific Countries In The Post-Convergence Period
title_sort factors causing differences in the financial reporting practices in selected south pacific countries in the post-convergence period
publisher Asian Academy of Management (AAM)
publishDate 2008
url http://eprints.usm.my/36390/1/AAMJ_13.2.6.pdf
http://eprints.usm.my/36390/
http://web.usm.my/aamj/13.2.2008/AAMJ%2013.2.6.pdf
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