The purpose of our report is to study the differences of accounting practices across Australia and Japan. Our data analyses are based on the 7 Australian and 7 Japan companies of our choice, although it does not represent every company in each country, the analyses provide us with some useful correlations for comparison, to better understand the variance of accounting practices across these two countries. In regards to measurement of disclosure level, we have used a combination of basic checklists and drill-down checklists (Morris, R., S. Gray and I. Susilowati 2015) for various elements of the financial reports. The differences in presentation issues and continuation of some-IFRS practices are also studied across these two countries. In addition, we drew relationships in our data to conclude whether these differences in accounting practices are attributed to country-level factors and/or firm-level factors. Through our results, we have found that whilst firm-level factors play some parts in affecting the accounting practices in Japan and Australia, the country-level determinants are the dominant factors driving the differences.