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Influences on accounting regulation
Financial reporting is a complex issue. This unit looks at the historical development...
Financial reporting is a complex issue. This unit looks at the historical development of financial regulation and reporting across Europe and the world. You will also examine how both Anglo-Saxon and ‘commercial code’ accounting have expanded to become the two main accounting systems used today.
By the end of this unit you will be able to:
- identify factors that have influenced the development of financial reporting;
- provide examples of how those factors have effected change in particular countries;
- list a number of variables that affect the development of accounting rules in different jurisdictions;
- explain the contingent model of accounting change;
- apply the theories of accounting development to new situations.
- Current section: Introduction
- Learning outcomes
- 1 How regulation evolves
- 2 Why jurisdictions have different rules
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Influences on accounting regulation
This unit examines how national practices for financial reporting have evolved and why different rules are in place within different jurisdications. In times past, imperialism and war have both been responsible for expanding financial rules across Europe and the world . More recently the Sarbanes-Oxley Act of 2002 in the United States has had the same, if unintentional, effect.
This material is from our archive and is an adapted extract from Issues in international financial reporting (B853) which is no longer taught by The Open University. If you want to study formally with us, you may wish to explore other courses we offer in this.
This is an extract from an Open University course which is no longer available to new students. If you found this interesting you could explore more free Accounting and Finance courses or view the range of currently available OU Accounting and Finance courses.
Copyright & revisions
Originally published: Tuesday, 12th July 2011
- Creative-Commons: The Open University is proud to release this free course under a Creative Commons licence. However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions. Full details can be found in the Acknowledgements section.
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