Financial Information Presented Under IFRS for SMEs in Romania

Provided by: WSDOT
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In this paper, the authors reviewed some problems related to IFRS for SMEs such as: the necessity of a standard destined exclusively to small entities, main users of financial information published by listed and unlisted entities, informational needs of main financial information users and the measure in which IASB took account of the different needs of SMEs versus listed entities, in the elaborated standards. Through a study made in their town, Tirgu Mures, they found that in Romania, also, the main group of users of the information presented in the statements issued by SMEs are the banks who grant loans to the unlisted enterprises and not the present and potential investors.

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