International accounting and financial reporting are the accounting standards which are based on accounting interpretations and the framework as they have been stipulated by the international accounting Standards Board which were formed in 1989. It is a business trend and technique that the financial report of a business enterprise should be prepared at the end of the financial period. The financial period in this case may be at the end of the year or the middle of the year. Whichever the case, the system adopted in making the financial report made is referred to as the Interim financial report system (IFRS) (IASB, 2009, p.405). This paper seeks to compare the non-accounting variables that might influence the disclosure and financial reporting regulations in developing and non-developing countries. The time at which the financial report is prepared depends on the organizations mode of operation and when the company started counting it is fiscal year. In other terms, international Accounting and financial reporting permits one to have an understanding of how IFRS are interpreted and their application in preparing the financial statements (IFRS, 2008). Financial Reporting is a system which is stipulated and has a guideline which ought to be followed to the latter. The financial service mostly comprises of three steps and this includes; 1. The status of international accounting system board (IASB) – entails integrating the project to bring authenticity of the accounting records; 2 An account for the foreign companies, and for this matter only those that keep their files with the IFRFS; and 3. Documents having major accounting standards that affects the foreign investments. Contents in International Accounting and Financial Reporting The system is updated on a quarterly basis and is based on the following procedure ‘  1. It is an accounting procedure which classifies diverse sets of standards within the accounting option  2. It also highlights a numerous examples of IFRS which can be computed in compliance to the standards  3. The international finance report system (IFRS) has a capability to disclose all the requirements needed in making the report.  4. It holds a good number of examples on financial statement presentation and supporting evidence from the original IFRS, both the yearly and quarterly reports.  5. It also maintains numerous extracts from recent form 20-F filings and this discloses on the variations from the U.S.A. G.A.A.P.  6. It also harbors a swift reference material which discloses relevant differences which subsist between IFRS and U.S G.A.A.P. Non-accounting variables that might influence the disclosure and financial reporting in a developed country (U.S.A) Non – accounting variables are the costs or the conservatives which do no change with any changes within the organizations, they are more of the fixed variables. In other words they remain untouched regardless of whatever happens within the organization. United States of America is considered as one of the developed Nations among nations, and this therefore will be the reference in relation to the developed countries. It is the role of the financial officer to present financial report a