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IFRS FOR SMEs: EVOLUTION AND DISCUSSIONS

Author

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  • MARINA Alexandra-Gabriela

    (Lucian Blaga University of Sibiu)

Abstract

Research on the harmonization of financial reporting of SMEs worldwide is currently focusing on the global application of IFRS for SMEs as an alternative for the financial reporting of entities whose securities are not listed on a regulated market. Several principles of recognition and valuation of assets have been simplified as a result of revisions made to the entire set of IFRS standards in order to meet the specific demands of small and medium-sized entities (SMEs) in meeting the information needs of readers of financial statements. The proposed goal was reached through the application of the historical research methodology, which involved an examination of the background and development of the IASB s project on the financial reporting of small and medium-sized enterprises, as well as subsequent events following the first and second revisions of the standard. Starting in 2000, when the first discussions about the need for a distinct standard for small and medium-sized entities emerged, to March 2021, when the feedback received following the second Request for Information for revision, the time period studied covered a number of significant events, taking into account that this provides a better understanding of the evolution of the IFRS standard for SMEs. Hence, three time periods were examined: the standard s pre-publication period (2000-2009), its first revision (2009-2015), and its second revision (2019-2021).

Suggested Citation

  • MARINA Alexandra-Gabriela, 2022. "IFRS FOR SMEs: EVOLUTION AND DISCUSSIONS," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 74(4), pages 43-49, December.
    • Handle: RePEc:blg:reveco:v:74:y:2022:i:4:p:43-49
    DOI: 10.56043/reveco-2022-0036
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    More about this item

    Keywords

    IFRS for SMEs; financial reporting; IFRS; historical research method;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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