Each country has its own accounting system that is in some way different than an accounting system of another country. Accounting systems are developed through different factors, e.g.: historic facts, geographical location, politics of a certain country. For an accounting system to even exist laws must be instated that serve to regulate the said system, and regulations that are added to those laws. Accounting systems are also influenced and regulated by national accounting standards, if there are any, and international accounting satndards, that connect and harmonize accounting systems of different countries The goal of this thesis is to show how the ccounting system developed and what their current state is in Japan, one of the worlds economicaly and technologicaly most developed countries, and China, which is still growing and taking a role of an economic giant on the worlds geopolitical scale.