Thesis (M.Sc.) - Cairo University - Faculty Commerce - Department of Accounting

The globalization of financial markets , privatization of public sector corporations in many developing as well as developed countries , the growth of the multinational corporations , the appearance of the economic integrations through the free movement of goods , people , and capital between countries such as the European Union , removing all non - tariff barriers between countries , the establishment of the international trade , and the existence of the World - Wide Internet which makes the whole worlds a small villageThis growing worldwide trend towards the deregulation of markets has opened up new opportunities for international investment and international joint ventures / alliances , and at the same time has increased the value of knowledge about how business is conducted in different countriesOne important aspect of that understanding is an awareness of the way in which international financial results are reportedAs investors and corporations venture beyond domestic boundaries , cross - border differences in accounting rules are becoming an increasing source of frustrationNo two accounting systems are exactly alike and the underlying reasons for these differences are essentially environmental as accounting systems evolve from and reflect the environments they serveThe differences include presentation differences , differences in the degree of flexibility in the accounting practices , and differences in the accounting practices themselves

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