Accounting Assignment:中小企业国际财务报告准则的缺陷 [5]
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:10324
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。
en made by Company Law Reform Committee in Malaysia including the introduction of a threshold before an audit is required. Normally, most countries do not have across the board audit requirements except for Malaysia. In Malaysia, the foreign investors and inactive companies must be audited so the auditors to SMEs would be valuable because this forces them to be independent and could refuse the business advice to fulfil the professional requirements.
Other than that, SMEs have to face with tough competition in a liberalized environment and they need to produce quality goods at a competitive price in order to compete in the market. By having the changes to IFRS for SMEs would give SMEs in Malaysia to have more capabilities to face stiff competition in the market by having rational strong external financial reporting to make sure it access to capital is not compromised (Yusoff, 2009). When Malaysia's SMEs react quickly of their global competitors, they will encourage the innovation and the regulation would change.
Furthermore, the adoption of IFRS for SMEs has been issued by MASB and IFRS for SMEs can provide growing business which they required to apply full Malaysian FRSs. However, in 2011, MASB approved another framework for accounting in IFRS for SMEs. According to Farmer (2011), Malaysia has agreed to have a new accounting framework based on the Malaysian Financial Reporting Standards (MFRS Framework) approved by MASB on 19 November 2011 and it is applicable from 1st January 2012. Hence, Malaysian SMEs can choose either to continue to apply PERS or the new MFRS Framework.
Therefore, the IFRS for SMEs in Malaysia is relevant since its accounting framework in IFRS for SMEs is separate from the full IFRS. Based on (MASB, 2010), at the international level, IFRS is separate with the accounting framework in IFRS for SMEs thus it is not affect MASB's IFRS convergence with policy in 2012 since Malaysia have the decision on whether to adopt the standard or not.
In contrast with New Zealand, the IFRS for SMEs is uncertainty relevant in their countries because this country must bear the cost for implementing and maintaining in both full IFRS and IFRS for SMEs (Samujh, 2007).
The stability of economy and political in Malaysia has created more investors to invest in Malaysia. This has been proved by Bernama (2012), Mustapa Mohamad who is the Minister of International Trade and Industry said that there were four SMEs from Japan that want to invest in agriculture, manufacturing and green energy industry in Malaysia which is some of them have bought land to start the operation in Malaysia. Malaysia also has developed infrastructure similar with other western country which lead for Malaysia to be a host of other services that result in this country to become a good place for the investors because of Malaysia's economic and political stability (Malaysian Dutch Business Council, n.a). When Malaysia adopts IFRS for SMEs, the standard will be the same with international. Thus, it will be easier for the investor to invest in the SMEs in Malaysia since the financial reporting has been standardised.
In Malaysia, the important contribution of SMEs is in terms of its economic growth, employment and exports. According to Ministry of International Trade and Industry (2013), SMEs contribute to the economy in terms of Gross Domestic Products GDP for 30%, for the total work fo
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