Differential Financial Reporting For Micro-Entities: Advantages And Limits
AbstractAt European level, the European Commission supports the reduction of the information reporting requirements for the small and medium-sized companies and makes the first move towards the classification of the unlisted entities in SMEs and micro-entities. For the last category of entities, the European Commission acknowledged that the rules of extensive reporting applied to these are not proportional with their accounting specific needs; they create an additional cost and can be an obstacle for the efficient use of the capital in productive purposes. Positive effects of the review will include a reduction of burden mainly for small enterprises ("think small first") as well as qualitative improvements for all enterprises in the scope of the Directives. We propose to present the need for simplification at our country level using some studies from the literature. We shall follow the implication of Romanian regulatory body in this process. The conclusion presented covers the analysed studies and the personal experience of the author.
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Bibliographic InfoArticle provided by "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration in its journal The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration.
Volume (Year): 11 (2011)
Issue (Month): 2(14) (December)
financial reporting; micro-entities; “think small first”; simplifying; reduction of administrative burden;
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