Podrobný výpis o publikaci

An increasing number of Czech SMEs are using the IFRS standards for reporting purposes. Theirmost frequently cited motivation is the requirement of a foreign parent firm to use the IFRS for consolidation purposes. It would seem that the Czech companies could simply follow the way, however, the situation is not so straight forward. This study examines the macroeconomic context and related legal and institutional issues of the IFRS implementation as rooted in the Central European institutional background. Based on a questionnaire survey conducted periodically four times over six years,we attempt to identify the effects of IFRS adoption connected with the SMEs context . The paper finds that, even though the pressure to use the IFRS is rising, important institutional factors and constraints on the side of the users, in terms of a lack of perceived benefits complicate the way of IFRS usage for the majority of Czech SMEs. Also, the preparedness of accounting professionals is quite low, as well as the benefits attributed to the IFRS adoption by SMEs' executives. Furthermore, the Ministry of Finance only gradually adapts to special features of the Czech environment and only recently makes the transition to IFRS less strictly regulated.