Analysis of the prospects of the implementatition of a generally accepted financial reporting standard (IFRS for SMEs) in the European Union.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Scope
- Scope of the Standard
- Definitions of SMEs
- Implications
- IFRS for SMEs
- Objective
- Examples of accounting simplifications compared to Full IFRS
- Goodwill
- Intangible Assets
- Financial Instruments
- Implications
- IFRS for SMEs in the EU
- Reasons for implementation
- Compatibility with the EU Accounting Directive
- Goodwill
- Extraordinary items
- Financial instruments
- Implications
- Further Obstacles
- Prospects of implementation
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper examines the rationale behind a potential implementation of the IFRS for SMEs. The paper analyses the scope and objectives of the standard, comparing it to the existing definition of SMEs in the EU Accounting Directives. It also explores major differences between the new standard and full IFRS. The main focus is on evaluating whether the IFRS for SMEs is a suitable accounting standard for SMEs in Europe and its potential contribution to harmonizing European accounting standards. The paper also assesses the compatibility of the standard with the EU Accounting Directives and identifies further obstacles to its implementation. The conclusion summarizes the key findings of the analysis.
- Scope and objectives of IFRS for SMEs
- Comparison of IFRS for SMEs with full IFRS
- Suitability of IFRS for SMEs for European SMEs
- Compatibility with EU Accounting Directives
- Obstacles to implementation of IFRS for SMEs
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: Introduces the topic of IFRS for SMEs and its potential impact on harmonizing financial reporting standards in the EU. Highlights the growing demand for a simplified accounting framework tailored to the needs of SMEs.
- Scope: Outlines the scope and definitions of SMEs as defined by the IFRS for SMEs and EU Accounting Directives. Discusses the differences in the approach adopted by the IASB and the EC. It also explores the implications of these different definitions for the implementation of IFRS for SMEs in the EU.
- IFRS for SMEs: Presents the objectives and key features of IFRS for SMEs, highlighting the accounting simplifications compared to full IFRS. Examples are given for areas such as goodwill, intangible assets and financial instruments. It also discusses the implications of adopting IFRS for SMEs.
- IFRS for SMEs in the EU: Analyzes the reasons for implementing IFRS for SMEs in the EU, focusing on its potential contribution to harmonizing European accounting standards. It explores the compatibility of the standard with the EU Accounting Directives and identifies potential obstacles to its implementation.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this paper include: IFRS for SMEs, harmonization of financial reporting standards, SME accounting, European accounting regulation, EU Accounting Directives, compatibility, obstacles to implementation, and global accounting standards.
- Quote paper
- David Grünbaum (Author), 2013, IFRS for SMEs in the European Union (EU), Munich, GRIN Verlag, https://www.grin.com/document/273436
