Some Variations in Accounting Practices in England, France, Germany and the United States.

The article compares the varying accounting methods of Europe and the U.S. There has been a more definite effort in European countries to regulate accounting practice through direct legislation than in the U.S. However, leading corporations in the U.S. have financial statements that are clearer and more orderly than those of corporations in Europe despite a lack in regulatory legislation for accounting practices. The U.S. is making progress in regulating accounting practice with the regulations prescribed by the Interstate Commerce Commission.