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The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Slovenia

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  • Aleš Novak
  • Aljoša Valentinčič

Abstract

We provide an overview of the role and current status of International Financial Reporting Standards (IFRS) in the development of national accounting rules in Slovenia. The basic requirements of the financial reporting in Slovenia are set in the Companies Act, while the Slovenian accounting standards (SAS) provide a detailed authoritative guidance, especially on measurement. We describe the (historical) relations of all four editions of SAS with IFRS, provide explanations for the close alignment of SAS 2006 and SAS 2016 with IFRS, and identify major differences. In addition, the paper covers the adoption of the new EU accounting Directive into Slovenian legislation.

Suggested Citation

  • Aleš Novak & Aljoša Valentinčič, 2017. "The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Slovenia," Accounting in Europe, Taylor & Francis Journals, vol. 14(1-2), pages 187-198, May.
    • Handle: RePEc:taf:acceur:v:14:y:2017:i:1-2:p:187-198
    DOI: 10.1080/17449480.2017.1300675
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    References listed on IDEAS

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    1. Andreja Bohm & Joze P. Damijan & Boris Majcen & Marko Rems & Matija Rojec & Marko Simoneti, 2001. "Secondary Privatization in Slovenia: Evolution of Ownership Structure and Company Performance Following Mass Privatization," CASE Network Reports 0046, CASE-Center for Social and Economic Research.
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