Mateja Jerman (Author), Gordana Ivankovič (Author)

Abstract

According to the growing need for more comparable accounting standards, the beginnings of International Financial Reporting Standards for small and medium sized entities (IFRS for SMEs) can be found in the year 2004. IFRS for SMEs represents for the first time an accounting standard for small and medium-sized companies that can be used globally. The paper aims to examine the historical development of IFRS, the principal institutions linked to their adoption and the harmonization process of standards within the European Union. The main contribution of the paper refers to the evolution of IFRS for SMEs and the main differences between the full IFRS in use and the IFRS for SMEs. The results of the comparative analysis demonstrate that several differences exist between them. Although the aim of the new standard is to assure comparable financial statements for small and medium-sized entities, the presented disadvantages demonstrate that not necessarily its implementation will assure more benefits than the cost that will occur.

Keywords

finančno poročanje;računovodstvo;standardi;mednarodni računovodski standardi;mala podjetja;srednje velika podjetja;financial reporting;accounting;standards;IFRS;small and medium-sized companies;

Data

Language: English
Year of publishing:
Typology: 1.01 - Original Scientific Article
Organization: UP FM - Faculty of Management Koper
UDC: 657.3:006
COBISS: 4214487 Link will open in a new window
ISSN: 0379-7864
Views: 3081
Downloads: 75
Average score: 0 (0 votes)
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Other data

Secondary language: Unknown
Secondary keywords: financial reporting;accounting;standards;IFRS;small and medium-sized companies;
Type (COBISS): Not categorized
Pages: Str. 13-24
Volume: ǂTom.ǂ 58
Chronology: 2011
Keywords (UDC): applied sciences;medicine;technology;uporabne znanosti;medicina;tehnika;communication and transport industries;accountancy;business management;public relations;komunikacije in transport;knjigovodstvo;poslovni menedžment;stiki z javnostjo;accountancy;računovodstvo;science and knowledge;organization;computer science;information;documentation;librarianship;institutions;publications;znanost in znanje;organizacije;informacije;dokumentacija;bibliotekarstvo;institucije;publikacije;prolegomena;fundamentals of knowledge and culture;propaedeutics;prolegomena;splošne osnove znanosti in kulture;standardization of products;operations;weights;measures and time;standardizacija proizvodov;postopkov;uteži;mer in časa;
ID: 1492288