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ACC410: International Accounting Group assignment -1 Building a sphere be system system Introduction: This is an assignment approximately a ontogeny country working to build its tarradiddleing system. We volition plow the standards setting process, the regulatory bodies involved and their roles, the challenges and obstacles which capability face and new(prenominal) factors which would be lead to consider. In this assignment, we will stick out realm of Bahrain is the developing country which is working to build its accounting system. apprise about Kingdom of Bahrain: Kingdom of Bahrain is a elfin island state near the western shores of the Arabian Gulf. The population in 2010 stood at 1,214,705. According to a January 2006 report by the unite Nations scotch and Social Commission for Western Asia, Bahrain has the fastest growth prudence in the Arab military man. Bahrain also has the freest economy in the halfway eastern United States and is tenth free st overall in the world based on the 2011 Index of Economic Freedom promulgated by the inheritance Foundation/Wall Street Journal. In 2008, Bahrain was named the worlds fastest growing financial center by the city of Londons Global monetary Centres Index. Bahrains banking and financial services sector, particularly Muslim banking, have benefited from the regional boom driven by contend for oil.

In Bahrain, oil color production and processing account for about 60% of export receipts, 60% of government revenues, and 30% of GDP. Bahrain is home to a physique of multinational firms and construction reward on several study industrial projects. In 2004, Bahrain sign the US-Bahrain Free Trade Agreement, which will reduce certain ! change barriers between the two nations. The invite of accounting system: The need of accounting system in Kingdom of Bahrain will attire because of the booming in the Bahrain economy and the entrants of many of multinational firms in Bahrain Market. The diversification of the firms in the grocery store from different diameters and cultures...If you call for to get a full essay, methodicalness it on our website: OrderEssay.net

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