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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Article from Volume 2, Number 1, Year 2014| THE FINANCIAL REPORTING TO THE LEVEL OF SMES. INTERNATIONALIZATION AND APPLICABILITY | 
Download | | Author(s): Ioana Mot, Dorel Mates, Veronica Grosu, Aura Domil | | DOI: 10.4316/EJAFB.2014.213 | | Abstract: In a globalized world, SMEs need to be able to face increasing competition in developed economies and developing countries, there is a direct link between internationalization and growth performance of SMEs.
Growth consolidation of international activities has increased the competitiveness and support the long term sustainability of the entities. However, SMEs still depend on their domestic markets, despite the extensive opportunities offered by the single market and globalization.
According to the IASB in 2009 was issued the standard simplified IFRS for SMEs by providing information on the financial position, performance and cash flows of the entity, the necessary decision-making. This standard provides an alternative set of IFRS an entity in small or medium can adopt it and apply it to be understood internationally.
As we know, in Romania, the applicability of the IFRS for SMEs is null, being used the Minister of Finance Order no.3055/2009 in accordance with European directives. Therefore CECCAR supports them by providing the most reliable information about this standard, as this sector depends on the quality of accountants.
This article was followed, in a complex framework, the essential information on applying IFRS for SMEs in financial reporting. | | Keywords: Standard, Financial Reporting, IFRS For SMEs, Applicability, Internationalization | References:
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2. Borlea N.S., Breban L., Achim M.V. (2011), Simplified IFRS Fot SMEs, Studia Universitatis „Vasile Goldi?? Of Arad, Vol.21, Part II.
3. Bunea St., Birbina M. (2010), Comparative Study Between Accounting Regulations In Romania (Order No. 3055/2009) And International Financial Reporting Standard For Small And Medium Enterprises (IFRS For SMEs), Comparative Studies Collection, CECCAR Publishing House, Bucharest.
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6. Deaconu A., Buiga A., Strouhal J. (2012), SMEs Financial Reporting: Attitudes Towards IFRS For SMEs, Studia Oeconomica, Vol. 57, No. 1.
7. Domil A.E., Artene A.E., Colta A.S., Sabau L.I. (2011), The Importance Of SMEs In Romania, In The Context Of Global Crisis, Annals. Economic Science Series Tibiscus, Vol.XV/VII.
8. Mateja Jerman (2009), Characteristics Of Financial Reporting Accourding To IFRS, Annals. Economic Science Series Tibiscus, Vol.XV, Pp.783-7907
9. Mate? D. (ed.) (2009), The Accounting Events And Transactions Standards, Guidelines And Tax Regulations, Mirton Publishing House, Timisoara.
10. O.M.F.P. 3055/2009 For Approving The Accounting Regulations In Accordance With European Directives.
11. International Financial Reporting Standard (IFRS) For Small And Medium Enterprises (SMEs), (2009), CECCAR Publishing House, Bucharest. |
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