Accounting standards vary according to ownership types, in theory.

Question

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Transitional economies, such as those in Eastern Europe and Central Asia, may have different accounting standards depending on the ownership type. This is because ownership structures are in a state of flux, with some enterprises still in public hands and others having been privatized. Different accounting standards may also be applied to state-owned enterprises versus privately owned enterprises.

Accounting Standards Vary According to Ownership Types, in Theory