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.
[1] S. Aisbitt, "Measurement of Harmony of Financial Reporting within and
between Countries: The Case of the Nordic Countries," European
Accounting Review, vol. 10, no. 1, pp. 22-51, 2001.
[2] H. Ashbaugh, "Non-U.S. Firms- Accounting Standards Choices,"
Journal of Accounting and Public Policy, vol. 20, no. 2, pp. 129-153,
2001.
[3] E. Emenyonu, S. Gray, "International Accounting Harmonisation and
the Major Developed Stock Market Countries: An Empirical Study,"
International Journal of Accounting, vol. 31, no. 3, pp. 269-280, 1996.
[4] D. Herrmann, W. Thomas, "Harmonisation of Accounting Measurement
Practices in the European Community," Accounting and Business
Research, vol. 25, no. 100, pp. 253-265, 1995.
[5] Jermakowicz, Gornik-Tomasevski, "Implementing IFRS from the
perspective of EU publicly traded companies", Journal of Accounting,
Auditing and Taxation, vol. 15, pp. 170-196, 2006.
[6] C. Leuz, "IAS versus US GAAP: Information Asymmetry-Based
Evidence from Germany-s New Market," Journal of Accounting
Research, vol. 41, no. 3, pp. 445-472, 2003.
[7] J. Strouhal, L. Mullerova, Z. Cardova, M. Pasekova, "National and
International Financial Reporting Rules: Testing the Compatibility of
Czech Reporting from SMEs Perspective," WSEAS Transactions on
Business and Economics, vol. 9, no. 4, pp. 432-441, 2009.
[1] S. Aisbitt, "Measurement of Harmony of Financial Reporting within and
between Countries: The Case of the Nordic Countries," European
Accounting Review, vol. 10, no. 1, pp. 22-51, 2001.
[2] H. Ashbaugh, "Non-U.S. Firms- Accounting Standards Choices,"
Journal of Accounting and Public Policy, vol. 20, no. 2, pp. 129-153,
2001.
[3] E. Emenyonu, S. Gray, "International Accounting Harmonisation and
the Major Developed Stock Market Countries: An Empirical Study,"
International Journal of Accounting, vol. 31, no. 3, pp. 269-280, 1996.
[4] D. Herrmann, W. Thomas, "Harmonisation of Accounting Measurement
Practices in the European Community," Accounting and Business
Research, vol. 25, no. 100, pp. 253-265, 1995.
[5] Jermakowicz, Gornik-Tomasevski, "Implementing IFRS from the
perspective of EU publicly traded companies", Journal of Accounting,
Auditing and Taxation, vol. 15, pp. 170-196, 2006.
[6] C. Leuz, "IAS versus US GAAP: Information Asymmetry-Based
Evidence from Germany-s New Market," Journal of Accounting
Research, vol. 41, no. 3, pp. 445-472, 2003.
[7] J. Strouhal, L. Mullerova, Z. Cardova, M. Pasekova, "National and
International Financial Reporting Rules: Testing the Compatibility of
Czech Reporting from SMEs Perspective," WSEAS Transactions on
Business and Economics, vol. 9, no. 4, pp. 432-441, 2009.
@article{"International Journal of Business, Human and Social Sciences:55537", author = "M. Paseková and L. Müllerová and J. Strouhal and L. Chyzhevska", title = "IFRS for SMEs: Challenge for Emerging Countries? Case of Czech Republic and Ukraine", abstract = "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.", keywords = "International Financial Reporting Standards (IFRS),Small and Medium-sized Enterprises (SMEs), Czech Republic,Ukraine.", volume = "4", number = "6", pages = "911-4", }