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Practitioner views on financial reporting for smaller entities

Reid, Gavin C. and Smith, Julia A. (2007) Practitioner views on financial reporting for smaller entities. Discussion paper. Centre for Research into Industry, Enterprise, Finance and the Firm (CRIEFF), St Andrews, United Kingdom.

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    This paper has four purposes. First, to establish the policy background leading to a special financial reporting standard for small firms (FRSSE), aimed at reducing compliance costs. An indirect policy implication of this was that small firms would be stimulated, for example, in terms of start-up rate, performance (including survival rate, and profitability, and growth), and contribution to employment and innovation within the economy. Second, to consider the implications for FRSSE itself on compliance costs, and to ask what forms they may take. Third, to analyse new evidence on adopters and non-adopters of the FRSSE. Fourth, to cast this new evidence into a cost effectiveness framework, to judge whether adopters who engage in upgrading of skills to implement the FRSSE had attained a net benefit as compared to non-adopters. The conclusion, based on this preliminary evidence, is that upgrading of skills to implement the FRSSE has indeed led to a significant net benefit.

    Item type: Monograph (Discussion paper)
    ID code: 2846
    Keywords: small firms, financial reporting, compliance costs, cost-effectiveness, business studies, Social Sciences (General), Accounting, Statistics
    Subjects: Social Sciences > Social Sciences (General)
    Social Sciences > Commerce > Accounting
    Social Sciences > Statistics
    Department: Strathclyde Business School > Accounting and Finance
    Related URLs:
      Depositing user: Dr Julia A. Smith
      Date Deposited: 01 Feb 2007
      Last modified: 12 Mar 2012 13:56

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