The evolution of financial standards for small and medium-sized entities

Jerman, Mateja; Ivankovič, Gordana

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Title:	The evolution of financial standards for small and medium-sized entities
Authors:	ID Jerman, Mateja (Author) ID Ivankovič, Gordana (Author)
Files:	http://anale.feaa.uaic.ro/anale/resurse/ctb2jerman.pdf
Language:	English
Work type:	Not categorized
Typology:	1.01 - Original Scientific Article
Organization:	FM - Faculty of Management
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
Year of publishing:	2011
Number of pages:	Str. 13-24
Numbering:	Tom. 58
PID:	20.500.12556/RUP-1963
ISSN:	0379-7864
UDC:	657.3:006
COBISS.SI-ID:	4214487
Publication date in RUP:	15.10.2013
Views:	4015
Downloads:	87
Metadata:
:	JERMAN, Mateja and IVANKOVIČ, Gordana, 2011, The evolution of financial standards for small and medium-sized entities. [online]. 2011. Vol. Tom. 58, p. 13–24. [Accessed 5 April 2025]. Retrieved from: http://anale.feaa.uaic.ro/anale/resurse/ctb2jerman.pdf Copy citation