IAS for SMEs Adoption: Evidence from the Regions of Kavala and Serres, Greece

Andreas Hadjixenophontos (), Pantelis Sklias (), Athanasios Mandilas () and Eleftheria Panagiotidou ()
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Andreas Hadjixenophontos: Neapolis University Paphos
Pantelis Sklias: University of the Peloponnese
Athanasios Mandilas: Κavala Institute of Technology
Eleftheria Panagiotidou: Κavala Institute of Technology

A chapter in Economy, Finance and Business in Southeastern and Central Europe, 2018, pp 435-453 from Springer

Abstract: Abstract This paper examines the adoption and implementation of IFRS by SMEs in the regions of Kavala and Serres, Greece. Our main objective is to examine the possibility of direct implementation of the International Accounting Standard for SMEs. Through empirical analysis and in accordance with the literature review, we set the main factors that affect business decision to implement IFRS/IAS. We investigate whether the willingness of businesses to implement IFRS/IAS depends largely on the educational level and size of companies. We also examine what influences the decision to apply IFRS/IAS and more specifically how much the advantages of using IFRS/IAS and the desire for transparency affect such decision. The findings of our research suggest that SMEs have insufficient information or guidance about the standards. This is one of the reasons that explain their reluctance to apply standards and be indifferent about the existence of internationally comparable information. Lack of knowledge and infrastructure and given the current economic circumstances in Greece, implementation costs act as a serious deterrent in the implementation of IFRS/IAS.

Keywords: International Financial Reporting Standards for SMEs; SMEs; Factors influencing the IAS for SMEs (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-70377-0_30

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DOI: 10.1007/978-3-319-70377-0_30

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