The impact of activating the requirements of the International Financial Reporting Standard for small and medium-sized enterprises on Qualitative Characteristics

Document Type : Original Article

Authors

1 Lecturer of Accounting, Obour Institutes, Egypt

2 Lecturer of Management, Obour Institutes, Egypt

3 Assistant Professor of Statistics, Obour Institutes, Egypt

Abstract

This paper aimed to investigate the effect of activating the international standard requirements for financial reporting for small and medium-sized enterprises in improving the quality of accounting information, where there is a conflict in accounting practices related to these facilities, and in doing so, there must be an accounting standard governing to those facilities in Egypt accounting practices , this paper has concluded that there is a positive effect of the application of the standard on the quality of accounting information in that it took into account the principle of cost and yield. Where it is one of the accounting issues affecting the accounting process in small and medium-sized enterprises, which are the high costs incurred by those facilities when preparing reports and financial statements, the study concluded that in order for the qualitative characteristics of accounting information for small and medium-sized enterprises with high quality must include the following qualitative characteristics (Relevance, Comparability, Understandability, Reliability, The balance between benefit and cost) with rush out into account the trade-off between the properties so as not to contradict characteristics with each other

Copyrights ©, High Institute of Engineering and Technology Al Obour

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