Issues in the adoption of international financial reporting standards (IFRS) for small and medium-sized enterprises (SMES)

Journal article

Perera, Kaluthanthrige Dona Dinuja and Chand, Parmod. (2015). Issues in the adoption of international financial reporting standards (IFRS) for small and medium-sized enterprises (SMES). Advances in Accounting. 31(1), pp. 165-178. https://doi.org/10.1016/j.adiac.2015.03.012
AuthorsPerera, Kaluthanthrige Dona Dinuja and Chand, Parmod
Abstract

Small and Medium-Sized Enterprises (SMEs) in various jurisdictions are currently attracting enormous attention and have also stepped into the global accounting reporting arena as a result of the introduction of International Financial Reporting Standards (IFRS) for SMEs. This study critically reviews the IFRS for SMEs including the development and implementation process of the standards. Furthermore, it applies the framework of decision usefulness theory and the pecking order theory to evaluate issues pertaining to the development and implementation of IFRS for SMEs. This study provides evidence that IFRS for SMEs have been a challenge for non-publicly accountable entities to adopt and there are several conceptual and practical issues with IFRS for SMEs. The analyses and insights provided by this study will have implications for revising the IFRS for SMEs and will assist in addressing future complications in the SME convergence process.

KeywordsIFRS for SMEs; accounting convergence; non-publicly accountable entities; SMEs; financial reporting transformation
Year01 Jan 2015
JournalAdvances in Accounting
Journal citation31 (1), pp. 165-178
PublisherElsevier Inc. (USA)
ISSN0882-6110
Digital Object Identifier (DOI)https://doi.org/10.1016/j.adiac.2015.03.012
Web address (URL)https://www.sciencedirect.com/science/article/pii/S0882611015000139?via%3Dihub
Open accessPublished as non-open access
Research or scholarlyResearch
Page range165-178
Publisher's version
License
All rights reserved
File Access Level
Controlled
Output statusPublished
Publication dates
Online21 Apr 2015
Publication process dates
Deposited19 Jun 2024
Additional information

© 2015 Elsevier Ltd. All rights reserved.

Place of publicationUnited States
Permalink -

https://acuresearchbank.acu.edu.au/item/909v8/issues-in-the-adoption-of-international-financial-reporting-standards-ifrs-for-small-and-medium-sized-enterprises-smes

Log in to edit

Restricted files

Publisher's version

  • 14
    total views
  • 0
    total downloads
  • 0
    views this month
  • 0
    downloads this month
These values are for the period from 19th October 2020, when this repository was created.

Export as

Related outputs

International Financial Reporting Standards (IFRS) for small and medium-sized enterprises
Perera, Kaluthanthrige Dona Dinuja. (2024). International Financial Reporting Standards (IFRS) for small and medium-sized enterprises. In In Chand, Parmod (Ed.). Encyclopedia of International Accounting pp. 27-36 Edward Elgar Publishing. https://doi.org/10.4337/9781800889712.00012
Users’ perspective on the usefulness of international financial reporting standards for small and medium-sized enterprises-based financial reports
Perera, Kaluthanthrige Dona Dinuja, Chand, Parmod and Mala, Rajni. (2023). Users’ perspective on the usefulness of international financial reporting standards for small and medium-sized enterprises-based financial reports. Meditari Accountancy Research. 31(5), pp. 1133-1164. https://doi.org/10.1108/MEDAR-03-2020-0809
Confirmation bias in accounting judgments : The case for International Financial Reporting Standards for small and medium-sized enterprises
Perera, Kaluthanthrige Dona Dinuja, Chand, Parmod and Mala, Rajni. (2020). Confirmation bias in accounting judgments : The case for International Financial Reporting Standards for small and medium-sized enterprises. Accounting and Finance. 60(4), pp. 4093-4119. https://doi.org/10.1111/acfi.12523