The Evolution of Financial Reporting for Private Entities in the European Union

Balancing past and present: The impact of accounting internationalisation on German accounting regulations

“…In this regard, German firms, professional bodies and public authorities lobbied against an implementation of the IFRS for SMEs in Europe, which was even stronger than in other European code-law countries such as France or Italy (EC, 2010; Quagli and Paoloni, 2012). Germany’s reluctance is understandable because the IFRS for SMEs, which is conceptually similar to full IFRS, 5 transfers the concept of a valuation-oriented, general-purpose financial statement to private firm accounting (Bertoni and de Rosa, 2010; Fülbier and Gassen, 2010). Even though the IASB refers to contracting (stewardship) in the IFRS for SMEs, it clearly plays a subordinate role (IFRS for SMEs: Sec.…”

Adoção do Padrão Contábil Internacional nas Pequenas e Médias Empresas e seus Efeitos na Concessão de Crédito

“…On the other hand, there are much criticism in the world concerning its arrangement and several authors point out the difficulty of finding the comparability intended by the new standard (Herman, 2010;Neag et al, 2009;Pacter, 2009). Other authors criticize the adverse cost-benefit ratio of this standard (Neag et al, 2009;Wright et al, 2012;Litjens et al, 2012) and also the negative impact of the need for accounting education compatible with the new standard, something which requires qualification for accounting assessment at fair value (Herman, 2010;Bertoni & De Rosa, 2010;Wright et al, 2012;Lenormand, Poulard, & Touchais, 2012). Besides, there is criticism related to the strong culture of using statements with a view to mere fiscal record by SMEs (Lenormand et al, 2012).…”

“…However, it was also possible to observe, in the literature, some doubts about the need to establish an international accounting standard for SMEs, among them: (i) disproportionate implementation costs of a new standard (Neag, Masca, & Pascan, 2009;Wright et al, 2012;Litjens, Bissessur, Langendijk, & Vergoossen, 2012); (ii) technical capacity of SME accountants and the other stakeholders regarding the interpretation and opinion on standards based on concepts and principles (Herman, 2010;Bertoni & De Rosa, 2010;Wright et al, 2012;Lenormand, Poulard, & Touchais, 2012); (iii) need for comparability of financial statements (Herman, small and medium-sized entities (CPC-SMEs) in Brazil and the cost of credit granted by financial institutions?…”

Adoção do padrão contábil internacional nas pequenas e médias empresas e seus efeitos na concessão de crédito

“…No entanto, encontram-se na literatura alguns questionamentos quanto à necessidade de se estabelecer um padrão contábil internacional para pequenas e médias empresas, dentre eles: i) desproporcionalidade de custos de implementação de um novo padrão (Masca & Gall, 2008;Bertoni & De Rosa, 2010;Fitzpatrick & Frank, 2009;Herman, 2010;Litjens et al, 2012); ii)…”

“…capacidade técnica dos contadores das PMEs e dos demais stakehoders 6 acerca da interpretação e julgamento de normas baseadas em conceitos e princípios (Dantas et al, 2010;Seifert & Lindberg;Herman, 2010); iii) real necessidade de comparabilidade de demonstrações financeiras (Masca & Gall, 2008;Herman, 2010); iv) e por fim, a identificação dos usuários das informações contábeis e suas necessidades, bem como as questões envolvendo o tamanho das pequenas empresas, especialmente para as microempresas, e a influência da legislação tributária (Bertoni & De Rosa, 2010;Jermakovicz & Epstein, 2010;Lenormand, Poulard & Touchais, 2012;Christie & Brozovsky, 2010), devidamente explorados na revisão bibliográfica.…”