Perceptions of Small and Medium Enterprises on IFRS Adaptation Process: a Case Study in Federation of Bosnia and Herzegovina

Abstract

This study investigates the problems with the implementation process of the International Financial Reporting Standards for Small &Medium Enterprises in Federation of Bosnia & Herzegovina. The factor analyses method is used over the two hundred and fifty seven survey responses obtained from companies operating in Sarajevo. Empirical findings indicate that; (a) Small and Medium Enterprises have positive perception on International Financial Reporting Standards, (b) the companies don’t have enough information about International Financial Reporting Standards and, (c) conversion process of financial reporting system is complicated.