Title: Accounting development in the Nordic countries: a comparative study

Authors: Arne Fagerstrom, Simon Lundh

Addresses: Abo Akademi University, FIN-20500 Turku, Finland. ' Linkoping University, SE-583 81 Linkoping, Sweden

Abstract: This study uses the Nordic countries as a case in order to develop theoretical and practical understanding of global accounting differences. Nordic countries are often viewed as a common group for accounting purposes due to cultural similarities and a high degree of economic integration. Actual accounting practice, however, varies substantially among the Nordic countries, both theoretically and in practice. This study examines social and institutional factors using the analytical methods of similarities and indirect method of differences developed by the classic economics writer John Stuart Mill. The results indicate that certain institutional factors are strong forces influencing the accounting practices of the Nordic countries. Notably, the influence of key scholars perpetuated German influence on accounting practice long after the end of World War II when other German influence on society declined markedly. This influence has now been replaced by that of the EU and the IASB.

Keywords: accounting development; accounting history; Nordic countries; Denmark; Finland; Norway; Sweden; global accounting differences.

DOI: 10.1504/JGBA.2009.023091

Journal for Global Business Advancement, 2009 Vol.2 No.1/2, pp.4 - 27

Published online: 09 Feb 2009 *

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