scholarly journals Small and Medium Enterprises in Nigeria and Adoption of International Financial Reporting Standards. An Evaluation

2014 ◽  
Vol 4 (2) ◽  
pp. 27-32
Author(s):  
Kanu Clementina ◽  
◽  
Onuoha Nnachi, Egwu ◽  
Gabriel Isu
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Medium Enterprises

scholarly journals Impact of Accounting Software among SMEs Accountants in Oman

2020 ◽  
Vol 4 (2) ◽  
pp. 25-33 ◽  
Author(s):  
Mohammed Muneerali Thottoli
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Basic Knowledge ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Incorrect Choice ◽  
Financial Reporting Standards ◽  
Accounting Software ◽  
Medium Enterprises ◽  
The Impact

Financial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The paper notes that for companies from member countries of the Gulf Cooperation Council, the technique of implementation and application of tax legislation and International Financial Reporting Standards (IFRS) differs significantly from other countries. The article emphasizes that in Oman, companies need to prepare financial statements in accordance with current applicable IFRS, as well as the Law on Commercial Companies 2019 and the guidelines and requirements for disclosure of capital market information. The purpose of this paper is to study and study the impact of the implementation of accounting software among small and medium enterprises (SMEs) in Oman. The study systematizes the features and issues of assessing the relationship between generalized accounting software (GAS) and its use by accountants working for SMEs. Twenty small and medium business accountants were selected as the target audience, taking into account their experience and basic knowledge of accounting in the context of ownership and use of GAS. The study confirms and theoretically proves that the use of GAS in the financial and economic activities of SMEs has a significant impact on the practice of accountants working in such enterprises, ie, there is a positive and significant relationship between GAS choice and use of GAS by SME accountants. The results of this study can be useful for the government, representatives of tax authorities, higher education institutions in the context of establishing adequate policies regarding the use of software for accounting by economic entities. Keywords: Generalized accounting software, accounting, accountant, small and medium enterprises, international financial reporting standards (IFRS), Oman.

International Financial Reporting Standards for Latin American Small and Medium Enterprises

2015 ◽  
pp. 252-274
Author(s):  
Myrna R. Berríos
Keyword(s):  
Latin America ◽  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
International Financial Reporting Standards ◽  
Caribbean Region ◽  
Reporting Standards ◽  
Global Competitiveness ◽  
Financial Reporting Standards ◽  
Latin America And Caribbean ◽  
Medium Enterprises

The purpose of this chapter is to describe the process followed by Latin America to adopt International Financial Reporting Standards for Small and Medium Enterprises (IFRS for SMEs), based on examples about the approaches used by seven South American countries – Argentina, Brazil, Chile, Colombia, Peru, Uruguay, and Venezuela. These countries have followed different models of harmonization to IFRS for SMEs. Harmonization models may be grouped into five categories: maintenance of local financial reporting standards, adaptation of International Financial Reporting Standards (IFRS) to local standards, full or partial adoption of IFRS, adoption of another country's standards, and convergence to diminish differences between local standards and IFRS. Regardless of the chosen mode of harmonization, SMEs face particular challenges as major players in the Latin America and Caribbean region with needs to greater access to finance sources and simplification of laws and reporting standards to be able to achieve global competitiveness.

scholarly journals CORPORATE COMPLIANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS: A CASE STUDY OF SELECTED SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) IN THE CAPE COAST METROPOLIS

2020 ◽  
Vol 6 (1) ◽  
pp. 1-12
Author(s):  
Marshall Wellington Blay ◽  
Charles Sam Cudjoe ◽  
Daniel Odei Okyere
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
International Financial Reporting Standards ◽  
Small Scale ◽  
Reporting Standards ◽  
Cape Coast ◽  
Medium Scale ◽  
Financial Reporting Standards ◽  
Training Programmes ◽  
Medium Enterprises

The purpose of the study was to explore the extent to which Small and Medium Enterprises (SMEs) in the Cape Coast Metropolis (CCM) comply with International Financial Reporting Standards (IFRSs). The study further looked at firm attributes (size, profitability, audit type, internationality, type of SME, and leverage) that influence the level of SMEs’ compliance with IFRSs. The descriptive design was adopted for this study. The study sampled 89 SMEs within the metropolis, however, data from 67 medium scale enterprises were used. A self-constructed compliance index (CINDEX) checklist was the instrument used. Both descriptive and inferential statistics were used in analysing the data. The findings revealed that medium scale enterprises average level of compliance of IFRSs is 77.9%. Also, enterprise’s attributes such as types, profitability, and audit type are able to influence 70.6% of the variance in the level of enterprise’s compliance with IFRSs disclosure requirements. The study recommended that the National Board for Small Scale Industries (NBSSI) and the owner/managers of the various SMEs in the metropolis should liaise with Institute of chartered Accountant Ghana (ICAG) to organise regular training programmes, for accountants within the sector, intended to provide practical guide for compliance with the International Accounting Standard Board (IASB).

scholarly journals Effects of foreign ownership and International Financial Reporting Standards on debt maturity in Chilean firms

2019 ◽  
pp. 416-428
Author(s):  
Jorge A. Muñoz-Mendoza ◽  
Sandra M. Sepúlveda-Yelpo ◽  
Carmen L. Veloso-Ramos ◽  
Carlos L. Delgado-Fuentealba
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Foreign Ownership ◽  
Debt Maturity ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Agency Conflicts ◽  
Linear Effect ◽  
Financial Reporting Standards ◽  
Medium Enterprises

The objective of this article is to determine the effects of foreign ownership and International Financial Reporting Standards (IFRS) on debt maturity in Chilean companies. The study uses a fractional response model (FRM) on 20,586 companies. The results show foreign ownership has a negative and non-linear effect. Foreign ownership in Chilean firms is a substitute control means in relation to long-term debt. IFRS reduces maturity in large companies and extends them in small and medium enterprises (SMEs). These results suggest it is more important for large firms to control agency conflicts, while it is more important for SMEs to reduce information asymmetry.

scholarly journals Factors Affecting the Adoption of Financial Reporting Standards by Micro, Small and Medium Enterprises in Tanzania: The Case of Mbeya City Council

2021 ◽  
Vol 4 (1) ◽  
pp. 46-61
Author(s):  
Benance Lackson ◽  
Seif Muba
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
City Council ◽  
Primary Data ◽  
Reporting Standards ◽  
Chi Square ◽  
Reporting Standard ◽  
Financial Reporting Standards ◽  
The Government ◽  
Medium Enterprises

Different studies have revealed that the majority of the micro, small and medium enterprises (MSMEs) in Tanzania do not use basic accounting principles and practices which are consistent with financial reporting standards in managing business though Tanzania adopted International Financial Reporting Standards for small and medium enterprises (IFRS for SMEs) in 2009 and issued financial reporting standard for Micro entities in 2018. This shows that the level of adoption and applicability of the standards is very low. Therefore, this study was carried out to assess factors that affect the adoption of financial reporting standards by MSMEs in Tanzania. The study was conducted in Mbeya City Council where primary data was collected from a sample size of 245 respondents via a Likert scale questionnaire. The descripto-explanatory research design was employed where the results were quantitatively analysed through descriptive statistics and chi-square (x2) model hypothesis testing. The results show that non-adoption of the standards was the result of inadequate knowledge by MSMEs, lack of awareness by most MSMEs on the existence of the standards, high perceived cost of conversion and implementation, weak legal and regulatory enforcement strategy, low level of technology applicability by SMEs and complexity of the standards as it needs a well-trained accountant to implement. The study recommends the government to come up with the implementation strategy that will first ensure that a large number of MSMEs is well trained on financial reporting standards because the decision to adopt or not to adopt largely depend on the adequacy of knowledge.

Pengaruh Konvergensi International Financial Reporting Standards (Ifrs) Terhadap Penghindaran Pajak(Tax Avoidance)

2018 ◽  
Vol 26 (2) ◽  
pp. 158-169
Author(s):  
Umi Wahidah ◽  
Sri Ayem
Keyword(s):  
Financial Reporting ◽  
Tax Evasion ◽  
Stock Exchange ◽  
Control Variable ◽  
Tax Avoidance ◽  
Sampling Technique ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Control Variables ◽  
Financial Reporting Standards

This research aimed to examine the effect of the convergence of International Financial Reporting Standards (IFRS) on tax avoidance on companies listed in Indonesia Stock Exchange. Tax avoidance that used in this research was Cash Efective Tax Rate (CETR). This research is also use the control variable to get other different influence that different such as CSR, size, and earning management (EM. This research used populations sector of transport service companies that listed in Indonesia Stock Exchange. The data of this research taken from secondary data that was from the Indonesia Stock Exchange in the form of Indonesian Capital Market Directory (ICMD) and the annual report of the company 2011-2015. The method of collecting sample was purposive sampling technique, the population that to be sampling in this research was populations that has the criteria of a particular sample. Companies that has the criteria of the research sample as many as 78 companies. The method of analysis used in this research is multiple regression analysis. Based on regression testing shows that the convergence of International Financial Reporting Standards (IFRS) has a positiveand significant impact on tax evasion. This shows that IFRS convergence actually improves tax evasion practices. The control variables of firm size and earnings management also significantly influence the application of IFRS in improving tax avoidance practices, while CSR control variables have no role in convergence IFRS in improving tax evasion practice.

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