Scenario - Brininger Enterprises
Rapid City, South Dakota has been home to Brininger Enterprises since 1984. This company is recognized around the world for its superior cutlery and currently ranks as number three within the industry. In 2011, Brininger Enterprises recorded gross sales of over sixteen million dollars. From its gross sales, the company claimed net profits of four million dollars. Brininger Enterprises is quite proud of its performance. It realizes the company's financial records truly show this organization is doing something right.
-Brininger Enterprises conducts international business. It realizes there are sometimes different accounting guidelines that need to be followed when dealing on an international level. In essence, there are differences between U. S. and international generally accepted accounting principles. Which one of the following is not a factor that would influence the development of accounting and financial reporting?

Question

Quizplus · Accepted Answer

Numbering systems would not influence the development of accounting and financial reporting as they are standardized and not subject to cultural or regional variations. However, factors such as sources of capital, inflation, culture, and legal systems can vary greatly across different countries and can influence accounting and financial reporting practices.