Accounting differences: U.S. enterprises and international competition for capital

A study reports information about the perceptions of accounting educators, chief financial officers, practicing accountants, and managers of international portfolios regarding the impact of differences in accounting concepts, reporting practices, and principles on the ability of US enterprises to compete with foreign enterprises. The findings indicate that several items are perceived to have a positive impact and several items are perceived to have a negative impact on international competition. A one-way ANOVA comparison of the responses of the 4 groups found significant differences in the perceptions of the groups on 8 items. A majority (67.4%) of the respondents indicated that changes are needed in the accounting concepts, reporting standards, and principles for US enterprises. All 4 groups were consistent in their perception that the availability of capital was the most important factor affecting international competition. Differences in accounting concepts, reporting standards, and principles are perceived as being less important by accounting educators than by the other groups.