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Level of Implementation of International Accounting Standards by Large Enterprises in Kosovo

Journal of accounting, finance and auditing studies, 2021-04, Vol.7 (2), p.96-108 [Peer Reviewed Journal]

2021. This work is published under https://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2149-0996 ;EISSN: 2149-0996 ;DOI: 10.32602/jafas.2021.015

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  • Title:
    Level of Implementation of International Accounting Standards by Large Enterprises in Kosovo
  • Author: Ahmeti, Skender ; Aliu, Muhamet ; Osmani, Lyra
  • Subjects: Accountants ; Accounting systems ; Audited financial statements ; Auditing standards ; Consolidated financial statements ; Costs ; Developing countries ; Financial institutions ; International accounting standards ; International Financial Reporting Standards ; LDCs ; Stockholders
  • Is Part Of: Journal of accounting, finance and auditing studies, 2021-04, Vol.7 (2), p.96-108
  • Description: The presentation of financial information is very important to understand the success of the enterprise, but depending on the activity of the enterprise, their accounting information may be different. [...]considering these differences in the reporting of financial information, it has been necessary to create reporting standards, which guide enterprises in compiling financial statements and reporting financial information, unifying reports and helping to compare them properly. Besides direct benefits, one of the indirect benefits that a large enterprise can derive from the implementation of IAS is the reduction in the investment risk for investors by reducing the cost of doing business to their capital (Deloitte, 2009). According to Jermakowicz, some of the challenges arise due to the complex nature of IASs and IFRSs - which are designed by large companies, the lack of guidance on the implementation of IASs, their constant change, the lack of knowledge about IASs by accountants, the transformation of IASB decisions into EU regulations and the parallel management of accounting systems (Jermakowics, 2010). The World Bank indicates that the reports of financial institutions meet the objectives of the CBK, but they do not fully comply with the "full IFRS". [...]in 2006 it concluded that "Corporate financial reporting in Kosovo is perceived to be of very low quality, except audited financial statements of financial institutions, which are perceived to be of relatively high quality" (The World Bank, 2012).
  • Publisher: Yalova: Yalova University, Faculty of Economics and Administrative Sciences
  • Language: English
  • Identifier: ISSN: 2149-0996
    EISSN: 2149-0996
    DOI: 10.32602/jafas.2021.015
  • Source: AUTh Library subscriptions: ProQuest Central
    DOAJ Directory of Open Access Journals
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