Implementation of IFRS for SME in Agricultural Enterprises in the Czech Republic

Lucie Bartůňková
Additional contact information
Lucie Bartůňková: Mendel University in Brno

Acta Universitatis Bohemiae Meridionalis, 2013, vol. 16, issue 2, 149-155

Abstract: With the growing importance of small and medium-sized enterprises there is also need to harmonize their financial statements. In this connection IFRS for SME has been developed but currently, it is not part of Czech or European accounting legislation. However, there are some countries in the world that have already adopted this standard and incorporated it in their national legislation. The aim of this paper is to identify the advantages and disadvantages associated with the implementation of IFRS for small and medium-sized enterprises involved in agricultural activities and operating in the Czech Republic. This paper is based on existing experience with implementation of the standard in some countries of the world and a questionnaire survey which was carried out on a sample of agricultural enterprises in the Czech Republic. From the survey it is evident that the representatives of the accounting units interviewed are concerned predominantly about greater administrative burden, which is already now considered to be a major obstacle in the business of small and medium-sized enterprises in the Czech market, and a number of them are also concerned about high implementation costs connected with the adoption of IFRS for SME.

Keywords: IFRS for SME; Small and medium-sized enterprises; Agriculture; Advantages and disadvantages (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2013
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://acta.ef.jcu.cz/doi/10.32725/acta.2013.014.html (text/html)
http://acta.ef.jcu.cz/doi/10.32725/acta.2013.014.pdf (application/pdf)
free of charge

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:boh:actaub:v:16:y:2013:i:2:p:149-155

DOI: 10.32725/acta.2013.014

Access Statistics for this article

Acta Universitatis Bohemiae Meridionalis is currently edited by Tereza Šťástková

More articles in Acta Universitatis Bohemiae Meridionalis from University of South Bohemia in Ceske Budejovice, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ivo Andrle ().