IDEAS home Printed from https://ideas.repec.org/a/aad/iseicj/v4y2016i0p092-097.html
   My bibliography  Save this article

The Accounting Standards And Financial Reporting In Albania

Author

Listed:
  • Rezarta Shkurti

    (Faculty of Economics, University of Tirana, Tirana)

  • Brunilda Duraj

    (Faculty of Economics, University of Tirana, Tirana)

Abstract

Albania implemented its first set of 14 National Accounting Standards (NAS), which were prepared in compliance with the International Financial Reporting Standards, in 2009. The 15th standard, specifically the Accounting Standard for financial reporting by micro-entities, was added to this set in 2011 and a 16th standard, relating to the reporting for non-profit enterprises, was added in 2015. In 2014, the National Accounting Council of Albania (NACA) performed a major revision of this existing framework of NAS. The focus of this paper is to analyze the current status, as well as the development of accounting and financial reporting in Albania for the Small and Medium Enterprises (SMEs). An international standard of financial reporting for SMEs was issued by the International Accounting Standards Board but was not fully endorsed by the European Community, nor by the NACA, who instead chose to revise their current NAS. In this study, we provide a general overview of the accounting regime and platforms currently applied in Albania, by focusing on the changes over the recent years. We also depict the main differences between the IFRS for SMEs and the NAS in Albania in treatment of several elements of the financial statements.

Suggested Citation

  • Rezarta Shkurti & Brunilda Duraj, 2016. "The Accounting Standards And Financial Reporting In Albania," CBU International Conference Proceedings, ISE Research Institute, vol. 4(0), pages 092-097, September.
    • Handle: RePEc:aad:iseicj:v:4:y:2016:i:0:p:092-097
    DOI: 10.12955/cbup.v4.748
    as

    Download full text from publisher

    File URL: https://ojs.journals.cz/index.php/CBUIC/article/view/748/840
    Download Restriction: no
    File URL: https://libkey.io/10.12955/cbup.v4.748?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    accounting standardsfinancial reporting; SME;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aad:iseicj:v:4:y:2016:i:0:p:092-097. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Petr Hájek (email available below). General contact details of provider: https://ojs.journals.cz/index.php/CBUIC .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.