The influence of accounting regulation simplification on the financial reporting of micro entities – the case of Croatia

Sačer, Ivana Mamić; Dečman, Nikolina; Sever, Ivana

doi:10.1080/1331677x.2015.1084888

Cited by 8 publications

(3 citation statements)

References 4 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Mamić Sačer, Dečman, & Sever suggest that thanks to the Directive, micro entities had been set apart and separate, greatly simplified regulations for financial statements were created for them. They indicate that both theory and practice confirmed the need for additional simplification of accounting regulations for the smallest entities, and the introduced changes may contribute to the development of Croatian micro units (Mamić Sačer, Dečman & Sever 2015).…”

Section: Directive 2013/34/eu: Striving To Reduce Burdens While Maintmentioning

confidence: 88%

Is Financial Reporting in the SME Sector Moving towards Transparency? The Evidence from Poland

Bauer

2017

KREM

View full text Add to dashboard Cite

In the context of the transparency of accounting information, the paper presents new approaches to accounting and financial reporting of enterprises from the SME sector. Therefore, accounting cannot be analysed without the context of particular conditions of individual countries, their social, economic and cultural development. One country -Poland -was selected for the study. The paper is not an in-depth analysis of IFRS for SMEs, Directive 2013/34/ EU and the amended Polish Accounting Act, but only applies to issues directly associated with financial statement transparency. This is a discussion paper that does not unequivocally resolve the matter under consideration, but presents possible approaches and encourages the undertaking of further research.

show abstract

Section: Directive 2013/34/eu: Striving To Reduce Burdens While Maintmentioning

confidence: 88%

Is Financial Reporting in the SME Sector Moving towards Transparency? The Evidence from Poland

Bauer

2017

KREM

View full text Add to dashboard Cite

show abstract

“…Comparing the statements of authors who basically looked at different sizes of companies, for example authors from Croatia, it is possible to see the existence of some matches with the results in this study. Namely, the authors (Mamić-Sačer et al, 2015) emphasized the importance of the empirical existence of the simplification of accounting regulations, because the application of such accounting could affect the reduction of the company's operating costs. This research implicitly emphasizes the importance of applying internal control in the operations of an agricultural enterprise, and indirectly confirms the importance of proper treatment of accounting by the top management that manages agricultural enterprises.…”

Section: Methodsmentioning

confidence: 99%

Implementation of Internal Control Mechanisms and the Possibility of Improving Financial Management in Large and Medium-Sized Agricultural Enterprises

Bakmaz¹,

Bjelica²,

POPOVIC³

2023

AgricultForest

View full text Add to dashboard Cite

Countries in transition should encourage internal processes to improve management in all business segments. One of the ways to improve this is the introduction of internal control mechanisms. This way of dealing with internal factors requires a new organization, resources necessary to cover the basic and extraordinary costs of introducing internal control mechanisms, as well as additional training of employees in those entities. This paper deals with the application of three forms of internal control mechanisms, i.e. internal audit, internal control and the combination of these two forms with financial management and control. The intention was to discover the synergistic effects in large and medium-sized agricultural enterprises arising from the use of internal control factors. The obtained results are far more positive than expected, especially those related to the generation of income in terms of the size of the company and the established internal control mechanism.

show abstract

“…The intention of IRFS for SMEs was to provide a more simplified approach (in terms of classification, recognition, measurement and disclosure of transactions) for the financial reporting of smaller-sized enterprises (Bohušová, 2011;Van Wyk & Rossouw, 2009). However, IFRS for SMEs has been criticised as still being too complex, too costly to implement and burdensome for smaller and microenterprises and might even be regarded as not at all useful to these enterprises (Sačer et al, 2015;Van Wyk & Rossouw, 2009). No additional guidelines for SMEs financial recordkeeping and bookkeeping exist in South Africa (Ajibade & Khanundi, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

Exploring financial literacy education strategies based on small- and micro-enterprise business practices

Derbyshire,

Fouché,

McChlery

2023

South African Journal of Business Management

View full text Add to dashboard Cite

Purpose: This study explored the nature of business practices of small- and micro-enterprises within the South African context to propose recommendations for financial literacy education strategies.Design/methodology/approach: The data collection technique used for this qualitative study included semi-structured in-depth interviews with a case study of 10 small- and micro-enterprise owners who collectively trade within five of the nine South African provinces.Findings/results: Small- and micro-enterprises do not need to differ significantly because the respective business practice themes identified are relevant within both contexts. Both category enterprises make use of a cash basis system, generally have inventory management systems in place and do not have sophisticated financial planning practices. The micro-enterprises studied do not have business plans or accurate pricing strategies and cash management is a concern. The small-enterprise participants generally did not show interest in competitors and their enterprises had more sophisticated bookkeeping practices in place than micro-enterprises.Practical implications: Financial literacy education strategies for the owners should focus on providing guidance on tax matters, significance of business plans and how to prepare them, debtors management strategies, inventory management strategies, and a basic bookkeeping system that evolves from the cash basis of accounting to the accrual basis of accounting. It should also aim to educate owners on the importance of financial planning and risk management.Originality/value: This research provides an evidence-based description of the characteristics of South African small- and micro-enterprises, which could prove valuable in developing future owner financial literacy education programmes as well as other support strategies targeted at this audience.

show abstract

The influence of accounting regulation simplification on the financial reporting of micro entities – the case of Croatia

Cited by 8 publications

References 4 publications

Is Financial Reporting in the SME Sector Moving towards Transparency? The Evidence from Poland

Is Financial Reporting in the SME Sector Moving towards Transparency? The Evidence from Poland

Implementation of Internal Control Mechanisms and the Possibility of Improving Financial Management in Large and Medium-Sized Agricultural Enterprises

Exploring financial literacy education strategies based on small- and micro-enterprise business practices

Contact Info

Product

Resources

About