Many outsiders see accounting as numbers inked on pieces of white paper and believe 3 that its numbers and calculations are objective and justifiable. While there is some 4 truth to that, there is no black and white in accounting policies. The introduction of 5 IFRS in an attempt to unify accounting practices, allows for firms and accountants to 6 choose from a variety of accounting policy options. Nobes (2013) found that the 7 choice of accounting policies used are heavily influenced by culture on a country 8 level and firm level. While many countries have adopted IFRS, it should be noted that 9 some of the adoptions are of a national or regional version of IFRS (Nobes, 2013, 10 pp.84-85). This report examines how cultural differences in Australia and Hong Kong 11 have influenced accounting practices of Pacific Star Network Limited (Australian 12 company) and Henderson Land Development Company Limited (Hong Kong).