This study investigates accounting harmonization within and between seven Arab Middle Eastern countries, using 2018 data from 255 industrial companies. By utilizing C-index and I-index metrics, the research aims to assess the harmonization extent and nature of seven key accounting measures in a diverse economic region. The findings reveal a variety of harmonization levels. High harmonization is evident in inventory valuation, PPE valuation, straight-line depreciation, and foreign currency translation, suggesting alignment with standardized accounting practices. Conversely, borrowing costs, investment property valuation, and inventory costing methods exhibit lower harmonization, attributed to the flexibility within accounting standards and regional economic conditions. A significant aspect of the study is comparing international financial reporting standards (IFRS) adopters with local standards users. While IFRS generally promotes higher harmonization, it does not uniformly guarantee this across all accounting areas. This highlights the influence of local economic and industry-specific factors on accounting practices, along with global standards. Conclusively, the study underscores the need for aligning local accounting practices with global standards like IFRS to enhance comparability and transparency in financial reporting. It contributes to the discourse on global accounting harmonization, suggesting a nuanced approach to standardization that considers local specificities. The findings are vital for policymakers, standard-setters, and financial analysts, offering insights for achieving more uniform accounting practices worldwide.

Title

Business Resilience and Business Innovation for Sustainability

Publisher

Springer

Publisher Country

United Kingdom

Indexing

Scopus

Impact Factor

None

Publication Type

Both (Printed and Online)

Volume

--

Year

2026

Pages

1-13