High quality financial reporting in the function of company growth in Serbia

Jugoslav Aničić, Milenko Ćeha (), Dušan Aničić, Nikola Ćeha and Olgica Nestorović

The European Journal of Applied Economics, 2023, vol. 20, issue 2, 111-130

Abstract: The accounting profession and financial reporting quality development are moving alongside market economy development, which contributes to financial system stability and increases capital market efficiency and the efficiency of the entire economy. This paper researches the influence of certain factors on financial reporting quality improvement in Serbia. The paper aims to identify the restrictions and problems in IAS/IFRS application, determine the effect of the factors with the most significant influence and recommend solutions for competent government institutions to establish quality financial reporting systems that will significantly contribute to local enterprise international competitiveness growth and increase. Results of the conducted empirical research showed numerous weaknesses in the system of financial reporting in the Republic of Serbia, which are reflected in frequent changes in legal regulations, small participation of the accounting profession in the enactment of legal regulations, often selective application of IFRS, the absence of national accounting standards, insufficient practical education and improvement of accounting personnel, unadjusted Legal Regulation with EU Directive 2013/34EU and others. Therefore, at the end of the paper, recommendations were given to the competent institutions in the Republic of Serbia to improve and modernize the field of financial reporting, which would affect companies’ performance on domestic and international markets

Keywords: financial reporting; international standards; company; Serbia (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://journal.singidunum.ac.rs/files/2023-20-2/h ... rowth-in-serbia-.pdf (application/pdf)
https://journal.singidunum.ac.rs/paper/high-qualit ... ny-growth-in-serbia- (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sng:ejae01:196

DOI: 10.5937/EJAE20-42729

Access Statistics for this article

More articles in The European Journal of Applied Economics from Singidunum University, Belgrade
Bibliographic data for series maintained by EJAE Editorial Office ().