Český finanční a účetní časopis 2008(3):6-19 | DOI: 10.18267/j.cfuc.276

Financial Statement of Micro-enterprises: Continually Open Question

Dana Kovanicová
Prof. Ing. Dana Kovanicová, CSc. - profesorka; Katedra finančního účetnictví a auditingu, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3, Česká republika; <kovanicd@vse.cz>.

In spite of the fact, that micro-enterprises are irreplaceable business entities in every country, there was not a relevant attention to them in former years. They were loaded with administrative and others burdens that did not correspond to their nature. Paper goes out from this recognition and deal with what sort of financial statement is appropriate to micro-entities. To this intent, the micro-entities are first defined according to IASB concept and EU jurisdiction, a deeper analysis is provided consecutively by means of various classifications and determination of the most relevant users. Paper criticises the IFRS for PE project as inappropriate and recommends creation of a national project oriented exclusively on microenterprises and users needs. Present situation in CZ is indicated at the end.

Keywords: Private enterprises; Micro-entities; Financial statement; IFRS for PE.
JEL classification: M41

Published: October 1, 2008  Show citation

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Kovanicová, D. (2008). Financial Statement of Micro-enterprises: Continually Open Question. Czech Financial and Accounting Journal, 2008(3), 6-19. doi: 10.18267/j.cfuc.276
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