Proceedings

(turnover, average number of employees, total assets). As regards the size of the
criteria, most of the respondents (46.3%) expressed preference for the values stated in
the OMPF (Order of the Minister of Public Finance) 3055/2009. Moreover, 43.2% of
the respondents reckon that the accounting of SMEs should be standardized by
simplifying the OMPF 3055⁄2009, whereas only 4.2% of the respondents consider that
the IASB standard could be applied as such. In our view, this reluctance over the
IASB standard is mainly because in our country we did not experience a large scale
implementation of the international financial reporting standards, these only being
mandatory for the consolidated financial statements of publicly traded companies.
65.8% of the respondents believe that the accounting treatments for SMEs should take
into account, first of all, the fiscal rules. This indicates that although the premises for
separating the accounting and the taxation have been created in principle, in practice,
the accounting treatment is assimilated to the fiscal one. This situation, in our view, is
no surprise, because 42.6% of the respondents considered that the main user of
accounting information about the small and medium-sized enterprises is the tax
authority, while 22.1% consider the management as the main user, and 22.1%
consider those who provide the funding as the main user. 72.6% of the respondents
consider that the accounting regulations for small and medium-sized enterprises
should be based on detailed rules, which indicates that most of the professional
accountants depend on a regulation to offer them through the chart of accounts the
representation of the transactions and events.
Our study is limited because we only tested the opinion of one of the parties involved
in the financial reporting of small and medium-sized enterprises, the professional
accountants. Moreover, the generalization of the results must be made with
cautiously, one of the limits being the sampling error of ±7% for a level of trust
of 95%. Despite all these limits, we believe that our study may be of interest both for
the academic environment and for those who are involved in the financial reporting of
small and medium-sized enterprises: the accounting standard setter, preparers, users
and last, but not least, the professional accountants. Moreover, we consider that this
study may be used as a reference for further research into the financial reporting for
small and medium-sized enterprises in our country.
REFERENCES
Albu, C.N. & Albu, N. (2010) „The context of the possible IFRS for SMEs implementation in
Romania. An exploratory study”, Accounting and Management Information Systems,
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Canadian Institute of Chartered Accountants (2001) „Differential Reporting, Background
Information and Basis for Conclusions, Exposure Draft”, available on-line at
http://www.ica.bc.ca/pdf/BasisforConclusions.pdf
Deaconu, A., Pop, I., Buiga, A., Fulop, M. (2009) „Conceptual and Technical
StudyRegarding Future Accounting Regulation for SMES in Europe”, Theoretical
and Applied Economics, vol. I (January): 19-32
Evans, L., Gebhardt, G., Hoogendoorn, M., Marton, J., Di Pietra, R., Mora, A., Thinggard, F.,
Vehmanen, P., Wagenhofer, A. (2005) „Problems and Opportunities of an International
Financial Reporting Standard for Small and Medium-sized Entities. The EAA FRSC's
Comment on the IASB's Discussion Paper”, Accounting in Europe, vol. 2: 23-45
IASB (2009) „International Financial Reporting Standard for Small and Medium–sized
Entities”, available on-line at http://eifrs.iasb.org/eifrs/sme/en/IFRSforSMEs
2009.pdf
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