Perceptions and knowledge of accounting professionals on IFRS for SMEs: Evidence from Turkey

Ali Uyar and Ali Haydar Güngörmüş

Research in Accounting Regulation, 2013, vol. 25, issue 1, 77-87

Abstract: This exploratory study extends the literature on IFRS for SMEs issued by the IASB in July 2009, and adopted by Turkey in November 2010. A questionnaire survey, based on the relevant literature and IFRS for SMEs, was developed. The aim was to investigate basic knowledge and perceptions of accountants regarding IFRS for SMEs. Our findings suggest that proponents of stand-alone IFRS for SMEs outnumber its opponents. The respondents are not highly informed about the omission of certain topics in IFRS for SMEs. Their awareness of valuation methods/concepts in IFRS for SMEs is at a moderate level. Inadequacy of accounting personnel’s training and lack of training programs arranged by professional bodies are considered to be the most serious obstacles in implementation of the standards. The majority of the participants are not aware of the key differences between full IFRS and IFRS for SMEs and simplifications made in IFRS for SMEs. Accounting professionals who are trained about IFRS for SMEs and the employees of Big4 auditing firms are more knowledgeable about the standards in comparison to others. Education level and experience of respondents have partial positive impact on knowledge of the standards.

Keywords: IFRS for SMEs; IFRS; SME; Accounting; Standards; Turkey (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reacre:v:25:y:2013:i:1:p:77-87

DOI: 10.1016/j.racreg.2012.11.001

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