International Financial Reporting Standards for SMEs


  • Cicilia IONESCU Professor PhD Faculty of Financial-Accounting and Management Bucharest Spiru Haret University
  • Lucian Dorel ILINCUŢĂ Lecturer PhD Faculty of Financial-Accounting and Management Bucharest Spiru Haret University


IFRS for SMEs, simplified financial reporting, public accountability, options, external users, recognition and assessment principles


IFRS for SMEs give the response to an international requirement of the developed and emerging economies in the process of globalization to have a rigorous and common set of international accounting provisions (standard, rule, regulation) specifically for SMEs, to be much more simplified than the complete IFRSs. The area where are applicable the IFRS for SMEs includes all the profit-oriented entities that prepare the general financial statements and do not have the public accountability and there are excluded the entities whose securities are publicly traded and the financial institutions like banks and the insurance companies.  


IASB, Standardele Internaţionale de Raportare Financiară (IFRS), Editura CECCAR, Bucharest, 2009.

IASB, IFRS pentru IMM-uri: Standardul Internaţional de Raportare Financiară (IFRS) pentru Întreprinderi Mici şi Mijlocii (IMM-uri), Editura CECCAR, Bucharest, 2010.

Legea nr. 346, 14 iulie 2004 privind stimularea înfiinţării şi dezvoltării întreprinderilor mici şi mijlocii, M. Of. nr. 681/29 iul. 2004, cu modificările şi completările ulterioare, art. 3 şi 4.

Niţă Maria Mădălina, O privire de ansamblu asupra proiectului de IFRS-uri pentru IMM-uri în 2010/RFPC_1_2010_ Articol_ Nita.pdf.

Man Mariana, Gâdău Liana, The profit and loss account in different approaches. Advantages and disadvantages, „Annals Universitatis Apulensis”, Seria Economice, nr. 12/2010.

Directive 2003/51/CE of 18 June 2003 amending Directives 78/660/CEE, 83/349/CEE, 83/349/EEC, 86/349/EEC and 91/674/EEC states in its preamble: “The86/349/EEC şi 91/674/CEE. – IFRS for SMEs.



How to Cite

IONESCU, C., & ILINCUŢĂ, L. D. (2011). International Financial Reporting Standards for SMEs. Annals of Spiru Haret University. Economic Series, 11(2), 165–172. Retrieved from