INTERNATIONAL STANDARDS FOR FINANCIAL REPORTING: HARMONIZATION IN MACEDONIA
Journal Title: UTMS Journal of Economics - Year 2015, Vol 6, Issue 2
Abstract
A continuous flow of reliable, relevant and financially important information is necessary for making economically justified and strategic investment decisions. Economic globalization has contributed to the need of creating a unified language for communication, a single set of international financial reporting standards with the sole purpose of enhancing transparency for investors and reducing the cost of capital. Harmonization of financial reporting provides more efficient use of global resources, easier consolidation of multinational companies foreign subsidiaries, alleviation of accounting staff mobility and reducing of audit costs. The research is based on the benefits that the national economy can gain if the international financial reporting standards are successfully implemented. Special attention in the paper is devoted to the factors that determine the harmonization of financial reporting. The analysis of the results show the managers' perception of financial reporting, and emphasize the effects of the implementation of IFRS in Republic of Macedonia.
Authors and Affiliations
Sasho Kozuharov, Natasha Ristovska, Daliborka Blazeska
Keywords
Related Articles
- EP ID EP274248
- DOI -
- Views 120
- Downloads 0
TOURISM AS A BASIS FOR DEVELOPMENT OF THE ECONOMY OF SERBIA
The place and role of tourism in economic development of Serbia is an important question that deserves special attention and it represents the main subject of this paper. The paper will present data that point out to cur...
HARMONIZATION OF TAX POLICIES: REVIEWING MACEDONIA AND CROATIA
The tax harmonization is a complex issue in the process of European integration. The tax harmonization is a process of convergence of the tax system based on mutual set of rules and, in general, it means existence of ide...
ENTREPRENEURSHIP DEVELOPMENT IN SERBIA: THE CHANCE FOR A WAY OUT OF ECONOMIC CRISIS
Neoliberal concept of serbian economic policy generated extremely poor results in all domains of economic and social trends, starting from low competitiveness on a world scale, high foreign indebtedness, deindustrializat...
ORGANIZATIONAL CHANGES AND JOB SATISFACTION IN THE HOSPITALITY INDUSTRY IN SERBIA
It is very important to investigate what factors influence a high level of the service customer orientation of hotels employees under the conditions of the transition and a high rate of the unemployment. One of the concl...
RESEARCH ON BEHAVIORS OF GOVERNMENT'S TOURISM MARKETING
Tourism has become one of the world's largest industries with broad prospects and large industrial scale. In tourism marketing, planning and packaging the image of destinations, promotion, and participating in nonprofit...