The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Slovenia

19 Pages Posted: 8 Mar 2017

See all articles by Aleš Novak

Aleš Novak

Faculty of Organizational Sciences (Deceased)

Aljosa Valentincic

University of Ljubljana - Faculty of Economics

Date Written: March 7, 2017

Abstract

We provide an overview of the role and current status of IFRS in the development of national accounting rules in Slovenia. The basic requirements of the financial reporting in Slovenia are set in the Companies Act, while the Slovenian accounting standards (SAS) provide a detailed authoritative guidance, especially on measurement. We describe the (historical) relations of all four editions of SAS with IFRS, provide explanations for the close alignment of SAS 2006 and SAS 2016 with IFRS, and identify major differences. In addition, the paper covers the adoption of the new EU accounting Directive into Slovenian legislation.

Keywords: IFRS, Slovenian accounting standards, financial reporting, EU accounting directive 2013/34/EU, SMEs

JEL Classification: M41, M48, N20, P2

Suggested Citation

Novak, Aleš and Valentincic, Aljosa, The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Slovenia (March 7, 2017). Available at SSRN: https://ssrn.com/abstract=2929058 or http://dx.doi.org/10.2139/ssrn.2929058

Aleš Novak

Faculty of Organizational Sciences (Deceased)

Kranj, 4000
Slovenia

HOME PAGE: http://www.fov.uni-mb.si/

Aljosa Valentincic (Contact Author)

University of Ljubljana - Faculty of Economics ( email )

Kardeljeva ploscad 17
Ljubljana, 1000
Slovenia

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