Accounting Assignment:中小企业国际财务报告准则的缺陷 [3]
论文作者:www.51lunwen.org论文属性:作业 Assignment登出时间:2017-08-02编辑:cinq点击率:10318
论文字数:3000论文编号:org201708021444303803语种:中文 Chinese地区:美国价格:免费论文
关键词:Accounting Assignment财务报告留学生作业
摘要:本文是留学生Accounting Assignment范文,主要内容是讲述中小企业的基本定义,在中小企业国际财务报告准则中存在的缺陷以及影响。
ounting systems.
Other than that, as stated by Reilly (2009), IFRS for SMEs has more simplified standard that is appropriate for the bigger unlisted companies to follow and by adopting IFRS for SMEs can save amount of money for those who in unlisted companies that have adopted full IFRS. He also suggest that some argue that unlisted companies that are preparing the financial statement should be applied for IFRS for SMEs and the debate on this issues is the IFRS for SMEs standard needs some cost to adopt but it is too complex for small unlisted entities. As mentioned by Stokdyk (2010), he recommended that IFRS for SMEs was best suitable for the large and medium sized entities reporting under full IFRS.
Moreover, some people argued that no one want an option in the IFRS for SMEs. This is because the countries not often to have an option in financial reporting. For instance, in German about 80 per cent German companies do not want to adopt IFRS for SMEs in their present draft form because they encountered difficulties when asked for the financial information for the German manufacturer that exports to the US and would produce information that prepared by German Commercial Code (Canham, 2008).
When a countries change the financial reporting standards it will be difficult for the company to use the new standards. There is the other debate about the differential reporting that was an important issue in Australia. According to Faux (2005), in early 1980s, the differential reporting was an importance issue that the country should be considered when the accounting regulators were developing a framework for their financial reporting. The regulators focus on financial reporting that should be provide the general purpose information to the needs of wide-ranging of users who are unable to knowledge the preparation of the financial reports that was tailored to their own needs.
As a conclusion, IFRS for SMEs is more appropriate for international demand especially for the developed and emerging economies which a common set of accounting standards in the smaller and medium sized enterprises is easier for the user to use than the full set of IFRS.
Why choosing Malaysia in IFRS for SME?
SME companies have an important position in the economy, most importantly in developed and developing economies. Malaysia is one of an emerging economy in Asia. Thus, Malaysia want to adopt the IFRS for SMEs in order to improve confidence in the accounts of SMEs, to reduce the cost that is involved in maintaining the standards since IFRS for SMEs is more cost effective to produce, and to improve the comparability for users of accounts of financial statements across different industries.
History and regulations of accounting for IFRS and SMEs in Malaysia.
In June 2005, the definition of SME across the economic sectors was approved by the National SME Development Council with endorsement from all the Government Ministries and Agencies as well as financial institutions that are involved in SMEs in Malaysia (National SME Development Council, 2005).
In 2006, Malaysia was introduced two-tier reporting framework issued by Malaysia Accounting Standards (MASB) for the companies in Malaysia which are MASB had approved Financial Reporting Standard (FRS) for non-private entities and the Private Entity Reporting Standards (PERs) for the private entities with the object
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