INTERNATIONA FINANCIAL REPORTING STANDARD (IFRS) AND SMES IN NIGERIA: PERCEPTION OF ACADEMIC

Ojeka, Stephen and Mukoro, D. O. (2011) INTERNATIONA FINANCIAL REPORTING STANDARD (IFRS) AND SMES IN NIGERIA: PERCEPTION OF ACADEMIC. INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANP.,GEMENT, 2 (1). pp. 13-19. ISSN 0976-2183

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Abstract

Small and Medium Enterprises are seen today as the backbone of every economy throughout the world. It hos contributed significantly to the economic growth of nations. Consequently, financial information put forward by the SMEs should be able to meet the needs of the users. Hence, after five years of consultations, in July 2009, International Accounting Standard Board (IASB) published its accounting for SMEs. It was aimed at addressing the needs and capabilities of Small and Medium scale enterprises. Those matters like measurements of liabilities, assets, revenue and expenses have been expunged because the users of the financial statement of SMEs do not need elaborate and complex information provided in the general purpose financial statements. However, there have been no meaningful significant contributions from the academic who are saddled with the responsibility to teach the subject matter at their various institutions. This paper therefore looked at the perceptions of academic as regard whether the proposed /FRS for SMEs {Statement of GAAP for SMEs} will ease/soften the burden of financial reporting by SMEs.

Item Type:	Article
Uncontrolled Keywords:	Academic, GAAP, I FRS for SMEs, Small and Medium Sized Companies
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:	Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	Mrs Hannah Akinwumi
Date Deposited:	05 Mar 2015 20:30
Last Modified:	23 Jun 2017 09:57
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/3695

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