Accounting and Financial Reporting for SME and Micro Enterprises in Albania

Yıl 2012, Sayı: 3 - Sayı: 3, 150 - 164, 01.07.2012

Mirela Miti (ujkani) Rezarta Shkurti (perri)

Öz

Recent progress and regional integration of the Albanian economy have presented a lot of challenges for the SME-s and the micro enterprises in Albania. One of the challenges, namely the regulation of the financial reporting framework for SME-s and micro entities becomes the focus of this study and we discuss on the problems that the micro enterprises faced when required to comply with the new accounting regulations. We find that these entities experience increased costs of reporting and lacked the proper experience to successfully handle the transition toward the new accounting regime. For ensuring a correct implementation of the new accounting rules and for increasing the awareness of the micro enterprises about the importance of qualitative financial information a close cooperation among the involved parties is needed. We recommend that the academic institutions, the professional organizations and the accounting regulatory bodies in Albania undertake trainings in order to enhance the knowledge on the new accounting rules.

Anahtar Kelimeler

SME, accounting standard, financial reporting.