Financial Reporting Standards Application by Small and Medium Sized Enterprises (SMEs) In Jordan: An Exploratory Study

Shamsi S. Bawaneh and Tamara I. Abzakh

International Journal of Management Sciences, 2014, vol. 3, issue 5, 301-312

Abstract: This research highlights the financial reporting mechanism carried by Small and Medium sized Enterprises (SMEs) in Jordan. This study defines the financial reporting standards used by SMEs in Jordan, users of SMEs financial reports, and uses of financial information and reports of SMEs in Jordan. The study covers the concept of International Financial Reporting Standards (IFRS), and focuses on the IFRS for SMEs and the financial reporting standards application in Jordan will real-life evidence from an exchange company. The exchange company is in compliance with all regulations and policies imposed by law in Jordan. In addition, the exchange company preferences regarding the use of the financial reports and statements, is similar to the interests and preferences of other SMEs, according to the information presented in the literature review from previous researches. The results show that the exchange company is using the International Financial Reporting Standards according to the regulations and policies imposed by Jordanian law, as the International Financial Reporting Standards for SMEs are in consideration and not implemented yet. This study uses a case-study (qualitative) method to examine the real-case of the financial reporting mechanism being implemented by an exchange company in Jordan, Ma’moun Al-Sadat and Sons Exchange Company. The research provides a basis for further research. Qualitative and quantitative studies could be conducted in the future to verify the findings of the study.

Keywords: Financial Reporting; Financial Reporting Standards; SMEs; Exchange Companies; Entrepreneurship; Small Business; Case Study; Jordan. (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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