IFRS FOR SME’S: FASHION MOVEMENT OR ROUTE TO CONVERGENCE NIIF PARA PYMES: MOVIMIENTO FORTUITO O RUTA A LA CONVERGENCIA?

Aida Lozada Rivera and Carmen Rios Figueroa

Revista Global de Negocios, 2014, vol. 2, issue 1, 41-54

Abstract: In 2009 the International Accounting Standards Board (IASB) issued IFRS for small and medium enterprises (SMEs). According to Deloitte (2012), more than 50% of Fortune Global 500 companies use IFRS for financial disclosure. The IASB believes that 95% of companies in the world are SME’s. Aware of the need to disclose this, the Board had created less complicated rules. IFRS for SMEs represent a simple choice compared to IFRS issued to multinational and public companies. Current literature shows studies related to the adoption of IFRS for SMEs in the US and in countries that are currently in the process of adopting them. It is pertinent to study the usefulness of these rules. To contribute to the literature, in addition to studying the background, the article presents a comparative analysis of countries that use IFRS for public companies and their adoption status of IFRS for SMEs. A comparison of IFRS for Multinational Enterprises and the IFRS for PYMES is relevant in relation to the complexity of issues that have been excluded from the latter. The study suggests ideas for future academic research in thearea of accounting.

Keywords: IFRS; SME’s; Full IFRS; IFRS for SME’s (search for similar items in EconPapers)
JEL-codes: F20 F23 M40 M41 (search for similar items in EconPapers)
Date: 2014
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