engleski

The IFRS/IAS in the SMEs - Theoretical Profiles and Empirical Evidences: Implementation of IFRS/IAS in Croatian SMEs

The paper explores the current accounting problems of Croatian SMEs from the point of view of accounting information and financial reports preparers as well as of their users on the cost-benefit basis. Croatia was one of a few countries that required the direct implementation of the full body of International Accounting Standards – International Standards of Financial Reporting by all entrepreneurs independently of their size. Such a situation caused the accounting system to be considered nothing more than a mandatory burden by Croatian SMEs. After 13 years of direct full IASs implementation introduced by the Accounting Act from 1992, the problem was finally recognized by modification of such a requirement according to the new Accounting Act which main points were described in the paper. The empirical research on accounting standards implementation in Croatian SMEs was performed in the light of UNCTAD – ISAR’ s proposals and IASB’ s activities regarding accounting for SMEs.

accounting standards; small and medium-sized enterprises; accounting harmonization

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