In most countries with a legalistic orientation, accounting principles are national laws in the way that accounting practices are codified.

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In countries with legalistic orientation, accounting principles are codified into national laws, which means that they hold the same weight as any other law in the country. Accounting practices may also be codified, but they do not typically have the same level of legal standing as accounting principles.

In Most Countries with a Legalistic Orientation, Accounting Principles Are