Consider the development factors in the following five countries: France, India, Japan, the United States, and the United Kingdom:
|
Development |
France |
India |
Japan |
United |
United States |
|
Main source |
Banks; |
Government; |
Banks |
Stock market |
Stock market |
|
Legal system |
Code law |
Common law |
Code law |
Common law |
Common law |
|
Taxation (link to |
Linked |
Separate |
Linked |
Separate |
Separate |
|
Political and |
Europe |
U.K., U.S., |
U.S., China |
U.S., Europe |
Canada, |
|
Inflation |
Low |
Low |
Low |
Low |
Low |
|
Level of economic |
High |
Low |
High |
High |
High |
|
Educational level |
High |
Low |
High |
High |
High |
Required: Based on the information provided in this chapter, prepare a profile of accounting in each of the countries.