Financial Reporting for SMEs – Past and Perspectives

Sava, Raluca; Mârza, Bogdan; Eşanu, Nicolae

doi:10.1016/s2212-5671(13)00193-7

Cited by 21 publications

(16 citation statements)

References 2 publications

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“…While the countries in the European Union using labor, sales, and total balance sheet in classifying SMEs 6 . Countries in Europe classify MSMEs by the number of units of work in a year, annual sales, and total balance sheets 7 . And Asian Development Bank (ADB) in 2014 compiles the definition of MSMEs in Asia Pacific countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Report for Micro, Small, and Medium Enterprise According to Financial Accounting Standards: Case Study Rafita Cake

Firdaus¹,

Wondabio²

2018

Proceedings of the 6th International Accounting Conference (IAC 2017)

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The main obstacle faced by SME's is capital problem. To overcome this problem, in 2007 the President launched the Kredit Usaha Rakyat (KUR) program whose guarantee was facilitated by the government. In practice, the realization of KUR is still far from the target, the reason is the bank did not get enough information related to the condition of SME's, so the bank became very careful in distributing credit. One of the information required by the banks is the financial statements, but many SME's perpetrators have not prepared financial statements in accordance with the standards. In addition to the lack of accounting knowledge, existing standards are also considered quite complex. At the end of 2016 the Indonesian Institute of Accountants issued Financial Accounting Standards of Micro, Small and Medium Entities. This standard is very simple and easy to implement so it is expected to help the SME's perpetrators in preparing financial statements.

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Section: Literature Reviewmentioning

confidence: 99%

Financial Report for Micro, Small, and Medium Enterprise According to Financial Accounting Standards: Case Study Rafita Cake

Firdaus¹,

Wondabio²

2018

Proceedings of the 6th International Accounting Conference (IAC 2017)

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“…Pengarsipan bukti transaksi yang belum baik dan pembukuan yang sekedarnya menjadikan usaha ini belum mampu menunjukkan laporan keuangan yang menggambarkan keadaan usaha yang sesungguhnya, kondisi ini diperkuat dengan penelitian yang dilakukan oleh (Gamayuni et al, 2020;Rudiantoro & Siregar, 2012). Hal ini tentu saja sangat disayangkan karena dengan pembukuan keuangan yang baik tentu saja akan menguntungkan usaha rumahan (Sava et al, 2013). Berdasarkan hasil analisis terhadap hasil riset dan wawancara dengan pihak mitra selaku pemilik usaha "Rengginang Minan" yang dilakukan pada bulan Januari 2021, teridentifikasi beberapa masalah dalam pemasaran dan penyusunan laporan keuangan yaitu sebagai berikut:…”

Section: Permasalahan Mitraunclassified

Penerapan Manajemen Keuangan dan Digital Marketing pada Pelaku Usaha Rengginang di Desa Kunjir

Dharma

Agustina

Windah

2021

JNM

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Purpose: The PkM team took the initiative to carry out service activities for the Rengginang business group to improve the skills and insights of partners in preparing financial reports and e-marketing for Minan Rengginang business actors. Method: This service activity involves the Rengginang Minan business group as a partner of this service activity. The methods used in this activity include cognitive, persuasive, and effective ways. Result: The outcome of this activity is an increase in the participants' abilities and knowledge. Conclusion: This activity positively affects the participant group's skills, knowledge, and income.

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“…In general, the IFRS for SMEs was and still is confronted with much criticism. In their research, Sava, Marza, and Esanu (2013) pointed out major problems regarding the new bundle of standards. A first issue concerns the definition of SMEs given in the standards.…”

Section: Literature Review About Ifrs For Smesmentioning

confidence: 99%

The Impact of Voluntary IAS/IFRS Adoption on Medium Italian Private Entities: Implications for the Adoption of IFRS for SMEs

Rossi¹,

Hanni²

2016

JMAA

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The EU Regulation 1606/2002 enhanced the financial statement comparability by requiring the International Financial Reporting Standards (IFRS) mandatory application. In Italy, the implementation of EU regulation stated that listed firms are required to prepare their financial statements in accordance with IFRS, then extended to private entities on a voluntary basis. The study examines the extent to which the change from Italian Generally Accepted Accounting Principles (GAAP) to IFRS has affected Italian small and medium-sized entities (SMEs). The results suggest that profit and equity reported under IFRS is higher than that reported under Italian GAAP and that the most relevant and frequent impacts are caused by the adoption of IAS 38, IAS 16, IAS 19, IAS 17, IAS 39, and IAS 18. This study can inform companies and policy makers of the consequences of IFRS adoption in those countries which intend to expand the application of IFRS more widely to smaller companies. Moreover, comparing the similarity and differences between full IFRS and IFRS for SMEs, this study supports the opinion that SMEs regulation cannot provide significant simplification especially designed for the needs of SMEs.

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Financial Reporting for SMEs – Past and Perspectives

Cited by 21 publications

References 2 publications

Financial Report for Micro, Small, and Medium Enterprise According to Financial Accounting Standards: Case Study Rafita Cake

Financial Report for Micro, Small, and Medium Enterprise According to Financial Accounting Standards: Case Study Rafita Cake

Penerapan Manajemen Keuangan dan Digital Marketing pada Pelaku Usaha Rengginang di Desa Kunjir

The Impact of Voluntary IAS/IFRS Adoption on Medium Italian Private Entities: Implications for the Adoption of IFRS for SMEs

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