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    STUDIA OECONOMICA - Issue no. 1 / 2012  


The study provides an answer to the question whether the international accounting standard dedicated to SMEs would satisfy the need to standardize SMEs financial reporting. It differentiates the analysis on clusters such as accounting systems (Euro-Continental, Anglo-Saxon and the one dominated by the IFRS), economy type (developed, emergent), and the type of stakeholders of SMEs financial reporting (standard setters, preparers and users). An empirical approach is used based on the content analysis of the comment letters to the IFRS for SMEs Exposure Draft, and on multivariate statistical techniques. The results suggest that, in spite of a certain complexity that does not fit completely the accounting expertise in emergent countries, of favoring preparers against users of financial information, and of the cultural diversity that can slow down its generalization, there are premises for the IFRS for SMEs to be accepted worldwide. Other value adding features are some contributions to the debate on the relevance of the accounting systems classification, i.e. the relation between these systems and IFRS.

Keywords: SMEs financial reporting, financial information users, accountingsystems, emerging economies

JEL Classification: M21, M48, M16, M48

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