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Accommodation of International Accounting Standards for the Favour of Small and Medium Enterprises and the Scope of Locally Applied | ||
| Al-Rafidain University College For Sciences | ||
| Article 1, Volume 0, Issue 36, 2017, Pages 1-43 | ||
| Author | ||
| Abbas Hameed Yahya | ||
| Abstract | ||
| Almost the local economic entities seek to make financial statements according to legality requirements and local accounting principles which is limited by the uniform accounting system and by the standard and rules of the local accounting, but the attendant for the issues of IASB notice that it adopted since 2009 year the number of standards which is appropriate with the ability of small and medium entities may be not accord with local issues, because the financial auditor council ,although the modifying which making on the uniform accounting system in 2011 year ,but it is not making specific treatment of the small and medium entities which is not making specific treatment of the small and medium entities which is not appropriate with the IFRS of this kinds of entities, also the council of the standards and rules in Iraq can not adopted its accounting standards to serve the small and medium entities so it is making that the entities not able to applicant that standards, so it is reflect for ability of entities to getting of the external finance by the investors or creditor. From this point, we focus about the nature of the small and medium entities concepts, properties and attributes with the large entities. Also making scientific practical appraisal for the uniform accounting system which is able to solve the local accounting problems according to international accounting standards requirement for the small and medium size entities. The most important conclusion of the search is: • The analytical compares between the comprehensive global accounting standards and international accounting for small and medium entities and Iraqi accounting rules and uniform accounting system appear number of the differences in deferent sides. • The simplified and defeat number of the comprehensive international accounting standards in frame of special standards for the small and medium entities ,it is helper leading the increase of harmonization between international accounting standards and the local accounting applications . The most important recommendation of this search is: • The study and analysis of the differences between the local applications and the international accounting standards for the small and medium entities leads the Iraqi accounting rules and standards boards to changing the local applications according for the international requirements. • It is important to held meeting and international workshop for administrator and employers of the economic entities to develop employer acknowledgement for this issues and the manner to applicant. | ||
| Keywords | ||
| international financial reporting standards for small and medium entities; comparability; Global financial reporting standard; international accounting standard board | ||
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