QUESTION 1:

Global standardisation of accounting requires the United States to adopt IFRS. Do you think it is likely that the United States will embrace IFRS in the near term, and what do you think are some of the factors that might discourage the country from adopting IFRS?

QUESTION 2:

Does the adoption of IFRS by different countries necessarily mean that the accounting procedures and practices they adopt will be consistent and comparable internationally?

QUESTION 3:

After considering the Hofstede-Gray model, briefly explain the hypothesised link between society values, accounting values and accounting practice.

QUESTION 4:

As noted in this chapter, Hamid, Craig and Clarke (1993) provide an argument that religion can have a major impact on the accounting system chosen by a particular country and that before 'Western' methods of accounting are exported to particular countries it must be determined whether particular religious beliefs will make the 'Western' accounting policies irrelevant. Explain their argument.