Cultural and Accounting Practices

Cultural and Accounting Practices
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Cultural and Accounting Practices
Cultural practices between people of different ethnicity, religion, race, gender, and even age significantly differ and have influences on almost every aspect of society and organizations. This idea remains undisputed among numerous scholars and disciplines. Similarly, although accounting practices across the globe often portray some similarities and consistencies necessary for interdependence to uphold globalization concepts, there are some accounting practices only familiar with companies with roots in the United States (Lourenço et al., 2018). With the growing need to adopt the idea of joint ventures, where companies pull together their resources to form a completely separate business entity to accomplish a specific task, there is a need for the participants to take into consideration the cultural differences and the disparities in the accounting practices that is even rampant in a global scale. This paper seeks to analyze the cultural and accounting practices that need to be taken into account in a joint venture between Instacart Retail Company and Shop4u from Nigeria.
Instacart is an American Company with its operation in the U.S. and Canada alone. Shop4u, on the other hand, is an emerging Nigerian Company in the same industry sector for retail and grocery delivery. Racial disparities become the most immediate cultural aspect to consider between the two companies. Instacart, as a typical American firm, would probably have white employees as opposed to the Nigerian firm that would ordinarily entail African employees. The joint venture would have to blend in the native American culture with that of the Africans, emphasizing aspects such as language and food culture, bearing in mind the two companies primarily deal with grocery delivery. The communication styles, the meaning of words, gestures, signs, and symbols are significantly affected by culture (Miehle et al., 2018). The joint venture would bring together employees from the two companies to work on common tasks. Therefore, a deep dive into the cultural influences on the communication style becomes of the ...