IFRS for SMEs: Challenge for Emerging Countries? Case of Czech Republic and Ukraine

Increase in globalization of capital markets brings the higher requirements on financial information provided for investors who look for a highly comparable information. Paper deals with the advantages and limitations of applying International Financial Reporting Standards (IFRS) in the Czech Republic and Ukraine. As a greatest limit for full adoption of IFRS shall be acknowledged the strong connection of continental accounting to tax system and enormous high administrative burden for IFRS appliers.

Authors:

• M. Paseková
• L. Müllerová
• J. Strouhal
• L. Chyzhevska

Keywords:

• International Financial Reporting Standards (IFRS)
• Small and Medium-sized Enterprises (SMEs)
• Czech Republic
• Ukraine.

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