Application of accounting standards in small and medium enterprises in Italy and Croatia: Challenges of international harmonization - Primjena računovodstvenih standarda u malim i srednjim dru\u161tvima italije i Hrvatske: Izazovi medunarodne harmonizacije

(This study analyses the financial reporting problems of small and medium-sized enterprises (SMEs) located in two European countries \u2013 Croatia and Italy, reflecting different institutional and economic environments of a transitional economy and developed economy in stagnation. The research explores the peculiarities of SMEs accounting from the cost/benefit aspect of accounting information pointing out their specific needs comparing to the large entities. The SMEs accounting problems are analysed in the light of internalization process and under the pressure of accounting harmonisation goals. Thus, our contribution is a survey, by theoretical and empirical point of view, on International Accounting Standard (IAS/IFRS) applicability to SMEs, which is one of the most important topics of the current international debate among accounting scholars and professionals.) U radu se analizira proces računovodstvene harmonizacije u malim i srednjim dru\u161tvima (SME) temeljem empirijskog istra\u17eivanja primjene računovodstvenih standarda pri talijanskim i hrvatskim SME. Cilj je istra\u17eiti primjenjivost MRS/MSFI pri SME, s aspekta pripreme i uporabe financijskih izvje\u161taja u kontekstu ekonomski i institucionalno diferentnih okru\u17eenja. Razmatraju se problemi financijskog izvje\u161tavanja SME, razrađuju aktivnosti međunarodnih tijela na harmonizaciji računovodstva SME (IASB, UNCTAD-ISAR), te iznose rezultati istra\u17eivanja primjene računovodstvenih standarda u talijanskim i hrvatskim SME, koji upućuju na nemogućnost primjene cjelovitog seta MSFI pri SME, te na činjenicu kako harmonizacija njihovog financijskog izvje\u161tavanja pretpostavlja harmoniziranost institucionalnih, ekonomskih, kulturolo\u161kih i drugih čimbenika okru\u17eenj