ASIAN ACCOUNTING
The Asian group of countries have cultures quite distinct from the Anglo-Saxon, Nordic, Germanic, and Latin groupings. However, as far as accounting is concerned many have a colonial history, such as Indonesia (Netherlands); India, Pakistan, Hong Kong, Singapore, and Malaysia (United Kingdom); and the Philippines (Spain/United States). China has been influenced by both Western ideas and the socialist uniformity of the former Soviet Union. Even in Japan, with its unique culture, it appears that both German and U.S. influences have been important in establishing the Japanese accounting tradition. Asian accounting tends to be relatively more conservative and secretive compared to the Anglo-Saxon countries.
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