EXPERTS´ OPINIONS ON THE USE OF INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM SIZED ENTITIES
| Autoři | |
|---|---|
| Rok publikování | 2011 |
| Druh | Článek v odborném periodiku |
| Časopis / Zdroj | Financial Assets and Investing |
| Fakulta / Pracoviště MU | |
| Citace | |
| Obor | Ekonomie |
| Klíčová slova | accounting; reporting; standard for small and medium sized entities |
| Popis | Small and medium-sized enterprises are a significant sector of national economies of developed countries. Their accounting and reporting has been following national GAAP, thus not enabling international comparison. The International Accounting Standards Board worked on the International Financial Reporting Standard for Small and Medium-sized Entities from 2003 and published it in July 2009. To implement the standard, individual national legislations have to accept it. When implementing the standard a number of troubles can arise; some of them related to the implementation itself, others to its practical use, some still to the differences in the concepts of financial statement, or in the accountants’ experience, knowledge and practices so far. The paper deals with the accounting and reporting in small and medium-sized enterprises in the Czech Republic and discusses their potential problems which may arise if the standard is implemented. |
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