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Implementation of IFRSs and IFRS for SMEs: the case of Estonia

Author

Listed:
  • Lehte Alver
  • Jaan Alver
  • Liis Talpas

    (Tallinn University of Technology, Tallinn, Estonia)

Abstract

This paper gives an overview of prior writings published by Estonian researchers that have analyzed the development of Estonian accounting legislation and financial reporting and potentially contributes to the understanding of Estonian international financial reporting standards’ implementation issues. The authors have analyzed the history of Estonian accounting legislation from 1990 until 2013 and have divided the integration of Estonian accounting system to the framework of IFRSs into two stages: 1) implementation of IFRSs, and 2) implementation of the IFRS for SMEs. The paper also analyzes the possible changes the new European Union Accounting Directive will bring to the Estonian accounting framework. As a methodological technique literature review and document analysis are used, including bachelor and master thesis and papers written by the Estonian researchers. In conclusion, it may be said that the implementation of IFRSs and IFRS for SMEs in the form of the Estonian good accounting practice (EGAP) has been smooth and successful in Estonia.

Suggested Citation

  • Lehte Alver & Jaan Alver & Liis Talpas, 2014. "Implementation of IFRSs and IFRS for SMEs: the case of Estonia," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(2), pages 236-258, June.
    • Handle: RePEc:ami:journl:v:13:y:2014:i:2:p:236-258
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    File URL: http://online-cig.ase.ro/RePEc/ami/articles/13_2_3.pdf
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    References listed on IDEAS

    as
    1. Nadia Albu & Cătălin Nicolae Albu, 2012. "International Financial Reporting Standards in an Emerging Economy: Lessons from Romania," Australian Accounting Review, CPA Australia, vol. 22(4), pages 341-352, December.
    2. Derek Bailey & Jaan Alver & Jonas Mackevicius & Vilma Paupa, 1995. "Accounting law reform in the Baltic states: the initial steps," European Accounting Review, Taylor & Francis Journals, vol. 4(4), pages 685-711.
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    Cited by:

    1. Škobić Tanja, 2016. "Accounting Regulation of Financial Reporting By Small and Medium-Sized Entities with No Public Accountability," Economic Themes, Sciendo, vol. 54(3), pages 425-447, September.

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    More about this item

    Keywords

    Estonia; implementation of IFRS; implementation of IFRS for SMEs; new EU Accounting Directive;
    All these keywords.

    JEL classification:

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

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