Secara historis, akuntansi argentina telah difokuskan pada pemenuhan kebutuhan

kreditur dan otoritas pajak. kode komersial Argentina mengharuskan semua

perusahaan untuk memberikan laporan tahunan, dan perusahaan publik juga harus
mengeluarkan laporan keuangan kuartalan.
sistem akuntansi argentina, bagaimanapun, adalah unik untuk Amerika latin.
standar akuntansi ditetapkan oleh FACPCE, tetapi struktur FACPCE berbeda dari
negara-negara Latin lainnya. FACPCE ini terdiri dari 24 dewan yang terpisah atau
Consejos yang datang bersama-sama untuk menyetujui resolusi teknis, yang
berhubungan secara disetujui norma akuntansi pada mata pelajaran tertentu.
masing-masing dewan merupakan yurisdiksi yang berbeda argentina. After the TR is
approved by the FACPCE, the individual councils determine whether to ratify the TR
as is or with amendments for their specific region. As a result, harmonization across
the country can be achieved only if each jurisdiction adopt the standard without
modification. Because of the individualist nature of each region, this ratification
treatment has the potential to result in very divergent practices country wide.
Fortunately, most of the TRs have been adopted without modification.
Argentina also has shown confusion over who can issue laws regarding accounting
standards. Consider the following: Because Argentinas inflation rate has been high
in the past, the concept of general price level (GPL) has been of central
consideration in formulating accounting standards. Specifically, GPL accounting
allows argentines to adjust balance amounts on their financial statements to reflect
purchasing power. However, the national government issued a decree to the
Argentine regulatory institutions, such as the CNV and Central Bank, that they
should no longer accept GPL adjusted financials. Although FACPCE felt that the
decree was contrary to law, it modified GPL accounting so that the use is optional if
inflation is lower than 8 %. Should inflation rates increase above 8%, Argentines will
be confused as to which law to follow. The FACPCPE is working toward
harmonization with IFRS,. Although many amendments have been made to
eliminate differences, Argentina believe some differences should still exist because
they address issues not covered under IFRS.
Mexico
Like Brazil, Mexico gives preferences to the information needs of the creditors and
tax authorities. The French origin of Mexicos legal system is a significant factor in
this preference.
Since the creation of the North American Fee Trade Agreement (NAFTA). Mexicos
economic development has been improving. However, with other international
countries becoming more prominent in the global arena, it is important for Mexico to
access funding. Mexico needs increased transparency among its corporations in
order for its economic development to continued.

Historically, Mexican accounting has been influenced by the United States generally
accepted accounting principles (GAAP) and auditing standards (GAAS). This strong
influence can be attributed to Mexicos need for foreign investment from the United
States. Furthermore, many Mexican companies seek to be listed on the worlds
largest exchanges. Their tendency to look to the United States accounting standards
has increased since the inception of NAFTA. However, Mexico frequently looks
toward IFRS when U.S standards do not meet Mexicos needs.
The Mexican Constitutions establishes profressional associations to regulate their
respective fields of activity. Societies of accountants throughout the country
delegate their regulatory capacity to the IMGP, Mexicos self-regulated institutions
overseeing the accounting profession. The IMCP issues accounting and auditing
standards, as well as a code ethics for accountants. Much like the AICPA in America,
the IMCP establishes continuing education requirements, conducts investigations,
and oversees professional conduct. More recently in 2001, the IMCP formed the
Mexican Council for Reseach and Development of Financial Reporting Standards
(CINIF). This institutions is responsible for creating accounting standards in line with
IFRS. Actual GAAP will remain effective until modified or replaced, but rights to
analyze , evaluate, modify, and issue GAAP have been transferred to the CINIF. On
May 1 2004, the standards issued by IMCP were passed to CINIF, which currently is
the new institutions in charge of reviewing and issuing the new Mexican GAAP. As of
the beginning of 2005, Mexican GAAP was approximately 70% in line with
international standards.

ASIAN ACCOUNTING
Many of the developing Asian countries have a colonial history, these countries
include Indonesia (Netherlands) ; India, Pakistan, Hong Kong, Singapore, and
Malaysia (United Kingdom); and the Philippines (Spain/United Stated). China has
been influenced by both Western ideas and the socialist uniformity of the former
Soviet Union. In 1997, many of the developing countries in Asia experienced
declining confidence in their financial markets, which resulted in the Asian financial
crisis, one of the cures for this Asian flu was to increase accounting quality and
transparency by adopting higher quality accounting standards.