The influence of Economic, Political and Cultural Variables on Financial Reporting

August 2022 | 6 pages | ID: I2E8F9749C9EN
Sadia Saeed

Abstracts

The decision making is the significant part of the business operations whereas; reporting reflects the reliance of the decision in operation. However, the financial reporting is the crucial element in organizations that reflects the wellbeing of the organization. Most commonly the countries follow the International Financial Reporting Standards for their financial reporting system to avoid the materiality and other discrepancies in reporting system (Joshi and Al-Modhahki, 2003)

This report is presenting the discussions based on the factors influencing the financial reporting. The overall orientation of the report is presenting the analysis and discussions on the political, economic and cultural factor that affects the financial reporting in Kuwait.(wordcount of report: 1000 words)

Contents

Introduction
Factors Influencing Financial Reporting
Economic
Political
Culture
Convergence and Harmonization according to Accounting Standards
Conclusion
References