Financial Reporting Standards Application by Small and Medium Sized Enterprises (SMEs) In Jordan: An Exploratory Study
Journal Title: International Journal of Management Sciences - Year 2014, Vol 3, Issue 5
Abstract
This research highlights the financial reporting mechanism carried by Small and Medium sized Enterprises (SMEs) in Jordan. This study defines the financial reporting standards used by SMEs in Jordan, users of SMEs financial reports, and uses of financial information and reports of SMEs in Jordan. The study covers the concept of International Financial Reporting Standards (IFRS), and focuses on the IFRS for SMEs and the financial reporting standards application in Jordan will real-life evidence from an exchange company. The exchange company is in compliance with all regulations and policies imposed by law in Jordan. In addition, the exchange company preferences regarding the use of the financial reports and statements, is similar to the interests and preferences of other SMEs, according to the information presented in the literature review from previous researches. The results show that the exchange company is using the International Financial Reporting Standards according to the regulations and policies imposed by Jordanian law, as the International Financial Reporting Standards for SMEs are in consideration and not implemented yet. This study uses a case-study (qualitative) method to examine the real-case of the financial reporting mechanism being implemented by an exchange company in Jordan, Ma’moun Al-Sadat and Sons Exchange Company. The research provides a basis for further research. Qualitative and quantitative studies could be conducted in the future to verify the findings of the study.
Authors and Affiliations
Shamsi S. Bawaneh, Tamara I. Abzakh
Keywords
Related Articles
- EP ID EP26846
- DOI -
- Views 289
- Downloads 4
The Place of Ethics and Professionalism in Engendering Sustainable Development in the Nigerian Banking Industry.
The terrain in which the banking sector operates makes it more uniquely different from the other sectors of the Nigerian economy. As the lubricant of the whole economy, this sector provides the necessary oiling of the...
The Effects of Supply Chain Management Practices (Strategic Suppliers Partnership, Information Sharing, and Postponement) On Organizational Performance in Consumer Goods Manufacturing Industry of Pakistan
To compete successfully in today’s challenging business environment, companies need to focus on SCM practices that have great impact on enhancing their performances. This research conceptualizes the effects of SCM prac...
The Impact of Students’ Characteristics on their Perceptions of the Evaluation of Teaching Process
Students’ Evaluations of Teaching (SET) continues to be in use around the world;the reliability and validity of SET scores as measures of teaching effectiveness remain an area of considerable research interest. Researc...
Effects of Workstation Diversity Management on Executive Effectiveness: A Case Study on Jordan Commercial Bank
The purpose of the study is to establish effects of workforce diversity management on the executive effectiveness of selected branches in Jordan Commercial Bank limited .Specifically, the study sought to establish the...
The Relationship between Employee Equity and Employee Retention among Employees in the Private Industrial Sector in Syria
In recent years, hiring qualified employees, developing, and retaining them has been one of the most important issues for human resource management departments in business organizations. But due to the poor economic an...