Hellenic Open University Conferences, International Conference on Business & Economics of the Hellenic Open University 2017

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Micro-entities accounting from a Greek perspective: The implementation of Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013
Emmanuel Demetrios Trahanas, John Sorros

##manager.scheduler.building##: Titania
##manager.scheduler.room##: Socratis
Date: 2017-04-22 02:00 PM – 04:00 PM
Last modified: 2017-04-11

Abstract


The importance of Small and medium entities (SMEs) on a European level was thoroughly recognized by the European Union through certain initiatives that generally aimed at forming an SME friendly business environment that promoted SME entrepreneurship and growth.

These initiatives aimed, among others, at the simplification of accounting rules and the reduction of administrative costs for SMEs.

The simplification of the existing regulatory environment for Small and medium entities was expressed through the issuance of the new European Accounting Directive (2013/34/EU Directive of the European Parliament and of the Council of 26th of June 2013).

On a national level, the accounting provisions of the new European Accounting Directive were implemented in Greece’s national law system by the enactment of Law 4308/2014 “Greek Accounting Standards” that brought significant changes in the Greece’s existing accounting framework.

Given the fact that almost 90% of business enterprises in Greece are micro entities, the purpose of this paper is to present the accounting provisions for Micro entities as encompassed in Law 4308/2014 (“Greek Accounting Standards”), in respect with the new European Accounting Directive (2013/34/EU Accounting Directive) so as to explore whether the principle set out in the European’s Commission Small Business Act “Think Small First” is applied in Greece’s accounting framework

Keywords: Small & Medium entities, micro entities, European Accounting Directive, Law 4308/2014 “Greek Accounting Standards”

JEL Classification: M41


Keywords


Keywords: Small & Medium entities, micro entities, European Accounting Directive, Law 4308/2014 “Greek Accounting Standards”

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