USING WEB TECHNOLOGY TO IMPROVE THE ACCOUNTING OF SMALL AND MEDIUM ENTERPRISES. AN ACADEMIC APPROACH TO IMPLEMENTATION OF IFRS

Florin Mihai, Constantin Groza and Aldescu (Iacob) Elena-Oana
Additional contact information
Florin Mihai: The Bucharest Academy of Economic Studies
Constantin Groza: ‘1 December 1918‘ University of Alba Iulia
Aldescu (Iacob) Elena-Oana: ‘Valahia‘University of Targoviste

Annales Universitatis Apulensis Series Oeconomica, 2011, vol. 2, issue 13, pages 11

Abstract: One way of supporting the accounting standard-setting process and to facilitatethe access to those standards is through the implementation of modern accounting reportingmethods using web technology. In this regard SMEs are under stress of two major factors:implementation of accounting standards and revolution in IT technology. The purpose of thispaper is to define the web accounting, explain the implications of web accounting for IFRSand discuss the key features in implementing this form of accounting for Small and MediumEnterprises(SME‘s). Web accounting is accounting software based on XML technology thatstores records and processes accounting transactions using HTTP as its primarycommunications protocol, and delivers web based information in HTML format and thentranslated in other formats. Web based accounting, will provide the benefit of cost savingsand increasing efficiency. It also will allows employees and external users (suppliers,customers and investors) a real time access to accounting data, translating reports in XBRLformat and facilitate adoption of IFRS.

Keywords: Web Accounting; SMEs; Web Technology; XML; XBRL; IFRS (search for similar items in EconPapers)
JEL-codes: M10 M M41 (search for similar items in EconPapers)
Date: 2011
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