Practitioner Views on Financial Reporting for Smaller Entities

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Practitioner Views on Financial Reporting for Smaller Entities

Author Info

Gavin C. Reid
Julia A. Smith

Additional information is available for the following registered author(s):

Gavin Clydesdale Reid

Abstract

This paper has four purposes. First, to establish the policy background leading to a special financial reporting standard for small firms (FRSSE), aimed at reducing compliance costs. An indirect policy implication of this was that small firms would be stimulated, for example, in terms of start-up rate, performance (including survival, profitability, and growth), and contribution to employment and innovation within the economy. Second, to consider the implications for FRSSE itself on compliance costs, and to ask what forms they may take. Third, to analyse new evidence on adopters and non-adopters of the FRSSE. Fourth, to cast this new evidence into a cost effectiveness framework, to judge whether adopters who are engaged in upgrading of skills, to implement the FRSSE, have attained net benefit, compared to non-adopters, in so doing. The conclusion is that significant net benefit has indeed accrued to adopters.

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Publisher Info
Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 0701.

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Date of creation: Jan 2007
Date of revision: Jun 2008
Handle: RePEc:san:crieff:0701

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Find related papers by JEL classification:
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting

This paper has been announced in the following NEP Reports:

NEP-ACC-2007-01-28 (Accounting & Auditing)
NEP-ALL-2007-01-28 (All new papers)
NEP-ENT-2007-01-28 (Entrepreneurship)

References listed on IDEAS
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Reid, Gavin C, 1999. " Complex Actions and Simple Outcomes: How New Entrepreneurs Stay in Business," Small Business Economics, Springer, vol. 13(4), pages 303-15, December. [Downloadable!] (restricted)
McMahon, Richard G P, 1999. " Modelling the Extent of Financial Reporting Practices amongst Australian Manufacturing SMEs," Small Business Economics, Springer, vol. 13(2), pages 81-96, September. [Downloadable!] (restricted)

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