SMEs Financial Reporting in European Union: Steps towards a More Harmonized Reporting

Buculescu (Costicã) Maria Mãdãlina () and Stoica Anamaria ()
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Buculescu (Costicã) Maria Mãdãlina: The University of Economic Studies, Faculty of Accounting, Bucharest
Stoica Anamaria: The University of Economic Studies, Faculty of Accounting, Bucharest

Ovidius University Annals, Economic Sciences Series, 2014, vol. XIV, issue 2, 436-441

Abstract: Recognizing the increasingly importance of SMEs in the economy, European Commission attempts to develop an “economic friendly” environment for SMEs business and further to create a harmonized accounting framework for SMEs financial reporting. Therefore, in 2013, European Commission issued a new Accounting Directive 2013/34/EU, to which the member states have to comply until July 2015, representing an important effort undertaken to reduce the administrative burden of SMEs financial reporting, which set accounting differential reporting requirements for all SMEs category size. Finally, through this paper we try to review and analyze the European SMEs financial reporting framework, highlighting the SMEs latest financial reporting directions through a more and more harmonized accounting framework.

Keywords: accounting directive; financial reporting; SMEs; IFRS for SMEs (search for similar items in EconPapers)
JEL-codes: M40 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xiv:y:2014:i:2:p:436-441

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