INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION
In the context of the global economic crisis, small and medium enterprises are most affected. That is why the problem that arises more frequently is the harmonization of national legislation with the European legislation. The necessity to implement specific standards for SMEs appeared in order to pr...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Alexandru Ioan Cuza University of Iasi
2011-03-01
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| Series: | CES Working Papers |
| Subjects: | |
| Online Access: | http://www.cse.uaic.ro/WorkingPapers/articles/CESWP2011_III1_PAS.pdf |
| _version_ | 1818911862479126528 |
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| author | Ana-Maria Pascu Andreea Vasiliu |
| author_facet | Ana-Maria Pascu Andreea Vasiliu |
| author_sort | Ana-Maria Pascu |
| collection | DOAJ |
| description | In the context of the global economic crisis, small and medium enterprises are most affected. That is why the problem that arises more frequently is the harmonization of national legislation with the European legislation. The necessity to implement specific standards for SMEs appeared in order to provide them a beneficial framework for better economic and financial market positioning. In this respect, the International Accounting Standards Board issued in 2009 IFRS for SMEs, a referential aiming to the simplification of accounting procedures, reconciliation and increase of confidence of potential investors (stakeholders). The question of compatibility of these standards with the European Accounting Directives appears in situations where they may choose to use IFRS for SMEs. The aim of this paper is to evaluate the incompatibilities between IFRS for SMEs and the European Accounting Directives and to analyze the results concerning the implementation of the IFRS for SMEs in Europe. Through this article we want to contribute to the SME accounting area of knowledge. |
| first_indexed | 2024-12-19T23:05:27Z |
| format | Article |
| id | doaj.art-cd3826a1ff1247f7b1e00785ee66e767 |
| institution | Directory Open Access Journal |
| issn | 2067-7693 |
| language | English |
| last_indexed | 2024-12-19T23:05:27Z |
| publishDate | 2011-03-01 |
| publisher | Alexandru Ioan Cuza University of Iasi |
| record_format | Article |
| series | CES Working Papers |
| spelling | doaj.art-cd3826a1ff1247f7b1e00785ee66e7672022-12-21T20:02:23ZengAlexandru Ioan Cuza University of IasiCES Working Papers2067-76932011-03-0131121134INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNIONAna-Maria PascuAndreea VasiliuIn the context of the global economic crisis, small and medium enterprises are most affected. That is why the problem that arises more frequently is the harmonization of national legislation with the European legislation. The necessity to implement specific standards for SMEs appeared in order to provide them a beneficial framework for better economic and financial market positioning. In this respect, the International Accounting Standards Board issued in 2009 IFRS for SMEs, a referential aiming to the simplification of accounting procedures, reconciliation and increase of confidence of potential investors (stakeholders). The question of compatibility of these standards with the European Accounting Directives appears in situations where they may choose to use IFRS for SMEs. The aim of this paper is to evaluate the incompatibilities between IFRS for SMEs and the European Accounting Directives and to analyze the results concerning the implementation of the IFRS for SMEs in Europe. Through this article we want to contribute to the SME accounting area of knowledge.http://www.cse.uaic.ro/WorkingPapers/articles/CESWP2011_III1_PAS.pdfIFRS for SMEscompatibilityEuropean Accounting Directivesharmonizationreconciliationimplementation |
| spellingShingle | Ana-Maria Pascu Andreea Vasiliu INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION CES Working Papers IFRS for SMEs compatibility European Accounting Directives harmonization reconciliation implementation |
| title | INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION |
| title_full | INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION |
| title_fullStr | INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION |
| title_full_unstemmed | INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION |
| title_short | INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES- A NEW CHALLENGE FOR THE EUROPEAN UNION |
| title_sort | international financial reporting standard for small and medium sized entities a new challenge for the european union |
| topic | IFRS for SMEs compatibility European Accounting Directives harmonization reconciliation implementation |
| url | http://www.cse.uaic.ro/WorkingPapers/articles/CESWP2011_III1_PAS.pdf |
| work_keys_str_mv | AT anamariapascu internationalfinancialreportingstandardforsmallandmediumsizedentitiesanewchallengefortheeuropeanunion AT andreeavasiliu internationalfinancialreportingstandardforsmallandmediumsizedentitiesanewchallengefortheeuropeanunion |