The Effect of IFRS for Small and Medium Enterprises in Mongolia

다국어 초록 (Multilingual Abstract)

This study assesses that the effect of International Financial Reporting Standards (IFRS) in Mongolia in the reaction of the respondents of small and medium enterprises (SMEs). The study applied to qualitative characteristics of accounting information；faithful representation, comparability, timeliness, understandability and value relevance to find out whether the adoption of IFRS has led to improvements in accounting reports quality of enterprises in Mongolia. The feelings that IFRS that are bad and stressful are highest percentage between respondents. Our result is consistent with IFRS for SMEs are more costly and any training can’t meet real needs of accountants (Bolormaa B, 2014). The outcome for the qualitative characteristics： understandability, timeliness, faithful representation and relevance shows less average results that are related to the low quality of financial reporting for entities (ROSC, 2008). Also the results show that the mean difference between enterprises adopted IFRS for SMEs and not adopted is significantly for understandability, comparability, timeliness, and relevance and insignificantly for faithful representation for the entities. At last the result shows that IFRS adoption improves the quality financial statement which is consistent with the “benefits of IFRS adoption”.

참고문헌 (Reference)

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