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DIFFERENTIAL FINANCIAL REPORTING FOR MICRO-ENTITIES, ADVANTAGES AND LIMITS

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Author(s): Ramona NEAG

Journal: Annals of the Stefan cel Mare University of Suceava : Fascicle of the Faculty of Economics and Public Administration
ISSN 2066-575X

Volume: 11;
Issue: 2(14);
Start page: 181;
Date: 2011;
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Keywords: financial reporting | micro-entities | “think small first” | simplifying | reduction of administrative

ABSTRACT
At European level, the European Commission supports the reduction of the information reportingrequirements for the small and medium-sized companies and makes the first move towards the classification of theunlisted entities in SMEs and micro-entities. For the last category of entities, the European Commission acknowledgedthat the rules of extensive reporting applied to these are not proportional with their accounting specific needs; theycreate an additional cost and can be an obstacle for the efficient use of the capital in productive purposes. Positiveeffects of the review will include a reduction of burden mainly for small enterprises ("think small first") as well asqualitative improvements for all enterprises in the scope of the Directives.We propose to present the need for simplification at our country level using some studies from the literature. We shallfollow the implication of Romanian regulatory body in this process. The conclusion presented covers the analysedstudies and the personal experience of the author.
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