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A history of the development of New Zealand accounting standards for small and medium enterprises and the future prospects of IFRS for SMEs

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Dissertation(1.93 MB)

Date

2010

Authors

Supervisor

Olesen, Karin

Item type

Thesis

Degree name

Master of Business

Journal Title

Journal ISSN

Volume Title

Publisher

Auckland University of Technology

Abstract

With attempts to standardise accounting standards applicable to reporting entities, the International Accounting Standard Board issued the International Financial Reporting Standards (IFRS) for small and medium sized enterprises (SMEs). IFRS for SMEs aims at reducing the compliance costs for smaller enterprises. This thesis examines the controversies and the reasons that the New Zealand accounting standards body may or may not adopt IFRS for SMEs by providing an account of what was occurring during the period of development, and comments on the appropriateness of its adoption in New Zealand. Historical narrative inquiry methodology is used in this research to investigate issues related to accounting standards for SMEs using the structured framework based on Porter (1981). The thesis is based on documentary evidence found by analysing the historical development of accounting standards for SMEs. The historical narrative inquiry model developed by Colby (2008) is used to structure the research. The historical development of accounting standards in New Zealand shows that IFRS for SMEs is what the business community is waiting for to enhance the confidence of users on SMEs’ accounts. The Framework for Differential Reporting is cost burdensome for SMEs. Since the IFRS for SMEs has not actually been adopted in New Zealand, interviews with business owners are eliminated. The appropriateness of the IFRS for SMEs within New Zealand business tiers is mainly considered. The contribution of this thesis is that it documents the development of the accounting standards and offers understanding of the future prospects of the IFRS for SMEs in New Zealand.

Description

Keywords

IFRS, SMEs, Historical development, New Zealand accounting standards

Source

DOI

Publisher's version

Rights statement

Permanent link

https://hdl.handle.net/10292/1008

Collections

Masters Dissertations