Primena Međunarodnog standarda finansijskog izveštavanja za male i srednje entitete u zemljama Evrope

Abstract

The paper is focused on researching the International Financial Reporting Standard (IFRS) for small and medium-sized entities (SMEs) in European countries and the frequency of adoption and application of this standard. The first part of the paper highlights the importance of this standard, its benefits and some of the obstacles to its application, which are recognized as significant in the previous literature. All references in the previous literature reviewed for the purposes of this paper are followed by the research that was conducted. The research aims to determine how often IFRS is applied to SMEs in European countries. The data were collected from reports published by the IFRS Foundation, which contain data on the application of the standard adapted for MSE. The data were processed with descriptive statistics. The research showed that a small number of European countries apply IFRS for MSEs, and that European countries in the EU are not more inclined to apply IFRS for MSEs.