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Challenges and difficulties for micro-businesses in adapting IFRS for SMEs requirements: Kosovo evidence
[journal article]
Abstract Small and medium-sized enterprises (SMEs) have a vital position in the international economy. The study aims to examine the compulsory financial reporting requirements set by the Kosovo Council for Financial Reporting (KCFR) as well as SMEs requirements for reviewing the current classification in th... view more
Small and medium-sized enterprises (SMEs) have a vital position in the international economy. The study aims to examine the compulsory financial reporting requirements set by the Kosovo Council for Financial Reporting (KCFR) as well as SMEs requirements for reviewing the current classification in the Kosovo context. This study, like most relevant studies, employs ordinal probit regression to examine the relationships among the requirements defined as dependent variables and other control variables such as necessary reclassification review under KCFR, preferred reclassification review under KCFR, experience knowledge of accountants and auditors, continuously education concerning financial reporting, and assessments of business owners. According to the reported conclusions, the application of these requirements in the Kosovo context does not create any opportunities for SMEs. On the contrary, the findings point to a thorough review of the reporting requirements for micro-businesses, as the current classification appears to be a burden for these businesses.... view less
Keywords
small business; medium-sized firm; funding; rendering of accounts; Kosovo
Classification
Financial Planning, Accountancy
Free Keywords
Small and Medium-Sized Enterprises; International Financial Reporting Standards
Document language
English
Publication Year
2021
Page/Pages
p. 85-101
Journal
Journal of Liberty and International Affairs, 7 (2021) 3
ISSN
1857-9760
Status
Published Version; peer reviewed