Social Sciences
8 years ago

Former Soviet Union's Accounting Practices Face Uncertain Future Amidst Rapid Changes.

Elsevier eBooks
Accounting and the Environment: the Experience of the Commonwealth of the Independent States11Due to the dramatic and accelerated changes in the former Soviet Union, it was not easy to keep up with the changes and updating this article. However, every effort was made to make this paper as current as possible. It is worthwhile to mention also that since many changes took place in the last year or two (as well as yesterday!), this paper looked at the experience of the former Soviet Union to …
Fouad K. AlNajjar

Paper Summary

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The article discusses how accounting practices in the Commonwealth of the Independent States (CIS) differ from Western practices due to historical and political influences. In the CIS, the government plays a significant role in controlling the economy and using accounting information for taxation purposes. Unlike in the West, there is no professional accounting body in the CIS, leading to a lack of regulations and standards in the accounting profession. The future of accounting in the CIS is uncertain due to ongoing changes and instability in the region.