BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All the factors that influence financial reporting practices in Malaysia except
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legal system
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tax laws
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educational system
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culture
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foreign currency
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Explanation:
Detailed explanation-1: -A survey of the relevant literature has identified the following five items as being commonly accepted as factors influencing a country’s financial reporting practices: legal system, taxation, providers of financing, inflation, and political and economic ties.
Detailed explanation-2: -In Malaysia, the accountancy profession is regulated by the Audit Oversight Board (AOB), the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM), the Malaysian Institute of Accountants (MIA), and the Malaysian Institute of Certified Public Accountants (MICPA).
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