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
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