International accounting systems: classification and harmonization. an empirical studyof countries that do not belong to the european union

International accounting harmonization of the various accounting systems brings together the efforts of several countries, particularly developed ones, and aims to reduce transaction costs in financial markets, by unifying the accounting language and eliminating the heavy and expensive accounting restatements operations.In a context that favors the globalization of the economy, environment characterized by enlargement of the European Union, the globalization of financial markets, a powerful privatization movement, and a fast development of multinational groups, the role of financial accounting has considerably evolved, and the need to speak the same accounting language is increasingly imposed. Thus, after many years of research and endless reform efforts, the international accounting harmonization of the accounting systems have finally emerged. In this paper we are trying to analyze the accounting systems of countries that do not belong to the European Union. The results indicate that differences in accounting practices, do exist and these differences cause problems for a wide variety of groups, organizations and individuals.