Head Accountant Interview Questions and Answers

Indian and Ethiopian accounting systems differ in their approach to financial reporting and regulatory compliance.

• Indian accounting system follows the Generally Accepted Accounting Principles (GAAP) while Ethiopian accounting system follows the International Financial Reporting Standards (IFRS).

• Indian accounting system is more rule-based while Ethiopian accounting system is more principle-based.

• Indian accounting system is heavily influenced by tax laws and regulations while E...read more

Ethiopian accounting also includes traditional methods such as bartering and communal labor.

• Ethiopian accounting has a strong emphasis on community and sharing resources.

• Bartering is still a common practice in rural areas.

• Communal labor is often used for farming and construction projects.

• The Ethiopian government has implemented modern accounting practices, but traditional methods still play a significant role.