IFRS application in Slovenia

Mateja Jerman () and Ales Novak
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Mateja Jerman: University of Primorska, Faculty of Management, Slovenia
Ales Novak: University of Maribor, Faculty of Organizational Sciences, Slovenia

Journal of Accounting and Management Information Systems, 2014, vol. 13, issue 2, 351-372

Abstract: The paper aims to present the most important characteristics of the evolution of the accounting system in Slovenia, emphasizing the most important features of the national accounting standards as well as the institutional framework that has affected the accounting development. Slovenia is a code law country with underdeveloped financial markets, dominant bank financing, close linkage between financial accounting income and taxable income and a small auditing profession. IFRS are mandatory for all companies with publicly traded securities for consolidated financial statements and for all banks and insurance companies. All other companies report in accordance with national accounting standards, although they have an option to apply the IFRS for their consolidated as well as separate annual financial statements. Since the number of entities in Slovenia that prepare their financial statements in conformity with IFRS is in international terms rather small, our literature review reveals that studies about IFRS implementation in Slovenia are lacking. Until now there have been just a few studies exploring the level of IFRS compliance. The paper draws attention to possibilities for future research from the field of value reliability and value relevance.

Keywords: Slovene accounting model; Slovene accounting standards; institutional framework; IFRS; IFRS application (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2014
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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