Abstract
This paper examines the adoption and implementation of IFRS by SMEs in the regions of Kavala and Serres, Greece. Our main objective is to examine the possibility of direct implementation of the International Accounting Standard for SMEs. Through empirical analysis and in accordance with the literature review, we set the main factors that affect business decision to implement IFRS/IAS.
We investigate whether the willingness of businesses to implement IFRS/IAS depends largely on the educational level and size of companies. We also examine what influences the decision to apply IFRS/IAS and more specifically how much the advantages of using IFRS/IAS and the desire for transparency affect such decision.
The findings of our research suggest that SMEs have insufficient information or guidance about the standards. This is one of the reasons that explain their reluctance to apply standards and be indifferent about the existence of internationally comparable information. Lack of knowledge and infrastructure and given the current economic circumstances in Greece, implementation costs act as a serious deterrent in the implementation of IFRS/IAS.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Book
Emvalotis, A., Katsis, Α., & Sideridis, Γ. (2006). Statistical methodology of educational research. Α version, Ioannina.
Marouga, Κ. (2004). Statistical analysis of data of general examinations with emphasis on multivariate methods (Chap. 6, pp. 57–67). Retrieved September 9, 2013 from http://www.stat-athens.aueb.gr/~jpan/diatrives/Marouga/chapter6.pdf
Journal
Albu, C. N., Albu, N., Fekete, S., & Cuzdriorean, D. (2010). IFRS for SMEs in Europe – Lessons for a possible implementation in Romania. Presented at the International Conference on Economy and Management Transformation, 24–26 October 2010. WSEAS Press, Romania, pp. 659–663
Baldarelli, M. G., Demartini, P., & MošnjaŠkare, L. (2006). International accounting standards for SMEs (Empirical evidence from SMEs in a country in transition and in a developed country in stagnation). Retrieved August 15, 2013 from http://www.efpu.hr/uploads/media/IFRS_for_SMEs_in_Italy_and_Croatia_01.pdf
Ball, R. (2006). International Financial Reporting Standards (IFRS): Pros and cons for investors (pp. 5–27). Accounting and Business Research, International Accounting Policy Forum.
Daske, H. (2004). Economic benefits of adopting IFRS or US-GAAP: Have the expected costs of equity capital really decreased? (Working paper series/Johann- Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften: Finance & Accounting, No. 131).
DeCoster, J. (1998). Overview of factor analysis. Retrieved September 18, 2013, from http://www.stat-help.com/notes.html
Deloitte Touche Tohmatsu. (2009). Simplified financial reporting – IASB provides relief for SMEs (p. 31453). London: Designed and Produced by The Creative Studio at Deloitte.
European Commission. (2012a). Enterprise and industry SBA fact sheet 2012 GREECE. Retrieved August 11, 2013, from http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/performance-review/files/countries-sheets/2012/greece_en.pdf
European Commission. (2012b). Evaluation of the SME’s definition. Retrieved August 11, 2013 from http://ec.europa.eu/enterprise/policies/sme/files/studies/evaluation-sme-definition_en.pdf
Newspaper The Vima. (2009). IAS for SME’s. Retrieved August 19, 2013 from http://www.tovima.gr/opinions/article/?aid=281390
Milonas, Π., & Athanasopoulos, Α. (2013). SMEs: survey, special issue: extraversion. Management strategy and economic analysis. Retrieved August 12, 2013 from http://www.nbg.gr/wps/wcm/connect/d54860ed-7f1e-49f5-9cb4fe0076d5db8a/SMES_2012H2_final.pdf?MOD=AJPERES
Nobes. (1998). International accounting (Chap. 4). Retrieved September 11, 2013 from http://highered.mcgraw-hill.com/sites/dl/free/0074716719/363734/sample_ch04.pdf
Taxheaven. (2009). The IASB publishes IFRS for SMEs. Retrieved August 17, 2013 from http://www.taxheaven.gr/news/news/view/id/4926
Conference Paper or Contributed Volume
Financial Reporting Faculty. (2015). SME accounting requirements: Basing policy on evidence. Research in Accounting Regulation. Retrieved January 3, 2016, from http://www.icaew.com/~/media/corporate/files/technical/financial%20reporting/information%20for%20better%20markets/sme%20accounting%20requirements%20final.ashx, Published by ICAEW.
Student Accountant. (2010). IFRS for SMES relevant to ACCA qualification paper p2 (INT, SGP, MYS, HK). Issue 05/2010. Retrieved August 19, 2013 from http://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/tech/sa_mar10_IFRS_SMEs_INT.pdf
Tzani, Μ. (2005). Notes for the course ‘Research Methodology of Social Science’ (pp. 23–27). University of Athens. Retrieved September 9, 2013 from http://benl.primedu.uoa.gr/database1/method.pdf
Uyar, A., & Gungormus, A. H. (2013). Perceptions and knowledge of accounting professionals on IFRS for SMEs: Evidence from Turkey. Research in Accounting Regulation , 25(1), 77–87, Published by Elsevier.
Voutsinas, M. V. (2003). Chapter 6: Hypothesis testing (pp. 83–90). Notes of the course Statistics III, Department of Economics, University of Piraeus.
Zeghal, D., & Mhedhbi, K. (2006). An analysis of the factors affecting the adoption of international accounting standards by developing countries. The International Journal of Accounting, 41, 373–386.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Appendix
Appendix
Rights and permissions
Copyright information
© 2018 Springer International Publishing AG, part of Springer Nature
About this paper
Cite this paper
Hadjixenophontos, A., Sklias, P., Mandilas, A., Panagiotidou, E. (2018). IAS for SMEs Adoption: Evidence from the Regions of Kavala and Serres, Greece. In: Karasavvoglou, A., Goić, S., Polychronidou, P., Delias, P. (eds) Economy, Finance and Business in Southeastern and Central Europe. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-70377-0_30
Download citation
DOI: https://doi.org/10.1007/978-3-319-70377-0_30
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-70376-3
Online ISBN: 978-3-319-70377-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)