Romanian Professional Accountants’ Perception on the Differential Financial Reporting for Small and Medium-Sized Enterprises
Abstract2009 was an important year, internationally, for the financial reporting of small and medium-sized enterprises. First of all, the International Accounting Standards Board (IASB) published the International Financial Reporting Standard for the Small and Medium–Sized Entities (IFRS for SMEs). Secondly, the European Commission started the consultations over the amendment of the 4th and 7th Directives with a view to simplifying them for the small entities. Moreover, the European Commission launched a consultation over a possible adoption of the IFRS for SMEs at the level of the European Union. Through our study we attempt mainly to identify the attitude of Romanian professional accountants about the financial reporting of the small and medium-sized enterprises (SMEs). Data was collected through questionnaires on a sample of 190 accountants. The results indicate that more than a half of respondents consider that the current regulations do not provide a reasonable level of simplification for SMEs and, consequently, a more simplified reporting system is needed for these entities. However, only very few respondents consider than the IFRS for SMEs in its current form is adequate. It was found that respondents having an experience of up to 10 years reject more willingly the idea of detailed rules and accept the need for professional judgment. Besides capturing the accountants’ attitude towards the IFRS for SMEs, our study identifies the main users of accounting information prepared by SMEs. Besides contributing to a scarce literature on the IFRS for SMEs applicability, these results are useful for practitioners and regulators when considering the change in the regulations for SMEs.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies in its journal Journal of Accounting and Management Information Systems.
Volume (Year): 11 (2012)
Issue (Month): 1 (March)
Contact details of provider:
Differential reporting; small and medium-sized enterprises (SMEs); professional accountants; IFRS for SMEs; European directives;
Find related papers by JEL classification:
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cristina Geambasu) The email address of this maintainer does not seem to be valid anymore. Please ask Cristina Geambasu to update the entry or send us the correct address.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.