Harmonization and classification of accounting systems: a study across E.U countries that belongs to Eurozone

The accounting information in order to be useful in making financial decisions should be relevant and comparable. To achieve the comparability of accounting information, accounting principles used by companies around the world must be similar. For this reason, the national accounting systems of the counties need to be harmonized and support the same accounting principles and standards. In this paper we are trying to analyze the accounting systems of the European Union countries that belong to Euro zone. The results indicate that differences in accounting practices, do exist and these differences cause problems for a wide variety of groups, organizations and individuals.