Home  Journals  International Accounting  5(125) - 2009 May

International standardization of accounting and financial reporting at small-scale enterprises

Available online: 17 September 2009

Subject Heading: On the way to international standards

JEL Classification: 

During the last decade lively discussions and disputes in the world community and first of all among professionals were held concerning the matter whether it is expedient creating international financial reporting standards for small-scale and medium-scale commercial enterprises. In the end after long hesitations and discussions the Council on IFRS made the following decision: to create a simplified variant of IFRS especially for non-public companies (small and medium-scale enterprises) not to insist on ubiquitous obligatory application of those. Russia should demonstrate a reasonable approach to this problem and define its position concerning this matter more precise4 in particular whether IFRS will be applied to small and medium-scale enterprises? The author tried to answer this question in the article.

Keywords: small-scale enterprises, medium-scale enterprises, standards, accounting, statement, level, management, assets

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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