Comparison Analysis Of The Case Of Kenya And China Accounting Principle And Standards System

According to Generally Accepted Accounting Principle (GAAP) and International Financial Reporting Standards (IFRS), this thesis analyzes the accounting standards of China in comparison to Kenya. In order to control the reporting results managers would be contrary to generally accepted accounting principles. GAAP provides a unified trading options approach.GAAP also provides a number of ways for managers to control the reporting results With their good judgment, managers could judge the transaction time and the structure , then modify the data report. This paper analyzes why the managers control the financial and management reporting of data, why do they have to regularly participate in such activities, why they like to control the financial results,like in the case of China and Kenya.Despite of a number of conditions, this thesis is based on Generally Accepted Accounting Principles and International Financial Reporting Standards, it compares the accounting systems in Kenya and China and how to improve the international comparability of accounting standards, thus improving the same terms use.The main difference between GAAP and IFRS is that International Financial Reporting Standards allows the actual revaluation of fixed assets, and Generally Accepted Accounting Principles is prohibited from doing so. In general, in order to stop controlling or modifying the accounting data, the paper hold that the two accounting standards should have some consistency to improve performance of the company's international transparency and comparability. More efficient international financial markets need to be built for the interests of equity investors.