In this study, we examine the accounting systems in six Asian countries to assess whether they differ in their value relevance under the residual earnings model. The countries selected: Indonesia, Korea, Malaysia, the Philippines, Taiwan, and Thailand, differ in the conservatism of their accounting practices, as well as in their adherence to clean surplus accounting. The study addresses two questions. First, are there systematic differences across countries in the value relevance of accounting numbers? Second, are there systematic differences in the incremental and relative contribution of book values and residual earnings to value across the countries related to accounting differences?