Countries Establish Their Accounting Standards Using One of Two Methods

question 17

Essay

Countries establish their accounting standards using one of two methods. They can be either code-law countries or common-law countries.
Required:
Explain these two separate methods used to establish reporting standards and why IFRS might not be adopted completely under either method. Provide examples of each type.

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Definitions:

Sexual Violence

Involves any sexual act or attempt to obtain a sexual act by violence or coercion, acts to traffic, or acts directed against a person's sexuality, regardless of the relationship to the victim.

Rape

Sexual penetration against a person’s will through the use or threat of force.

Aggression

Behavior intended to harm or intimidate another individual, often manifesting physically or verbally.

Feminists

Individuals who advocate for women's rights on the ground of equality of the sexes.