Open AccessAccounting, Culture And Emerging Economies: IFRS In Central And Eastern Europe
Author(s) -
David R. Borker
Publication year - 2012
Publication title -
the international business and economic research journal/the international business and economics research journal
Language(s) - English
Resource type - Journals
eISSN - 2157-9393
pISSN - 1535-0754
DOI - 10.19030/iber.v11i9.7184
Subject(s) - czech , accounting , hofstede's cultural dimensions theory , iron curtain , economy , emerging markets , communist state , post communist , east central europe , work (physics) , international financial reporting standards , geography , communism , political science , business , economics , sociology , social science , engineering , finance , mechanical engineering , philosophy , linguistics , politics , cold war , law
The work of Geert Hofstede and S.J. Gray has provided a framework for many studies of the potential impact of cultural values on accounting in various countries. This paper provides a comparative analysis of accounting perspectives in Central and Eastern European countries (CEEC). The CEEC are former communist states in Europe which became independent countries after the collapse of the Iron Curtain. Twelve CEEC were selected for study: Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Serbia, Slovakia and Slovenia. Each is examined for Hofstedes six cultural dimensions and a corresponding accounting profile is derived based on Grays accounting values. Profiles for each country are compared to an independent IFRS favorable profile proposed by the author as part of a broader analysis of cultural patterns, among other factors, for successful IFRS implementation.