accounting

there are some generally accepted principles in our country...according to which every entry is to be made in the books of accounting.....

Are there any differences in accounting process in each and every country? Basically accounting is the bookkeeping methods involved in the preparation of statements concerning assets, liabilities, and operating results of a business.It's concern is to make management decision more accurate. It's how it goes in our country.

Accounting process should be based on Generally Accepted Accounting Principle(GAAP)of a country..